Emap has bought the firm from the Parkmead Group and private investors. It will pay an initial £8.7m with further deferred payments of up to £5.7m depending on Yospace's operating performance over the period to March 31 2010. In the year to December 31 2005, Yospace made a loss of £480,000.
The acquisition will put Emap in a strong position in the emerging mobile space, which is becoming increasingly important battle ground for publishers. Emap said the acquisition was consistent with its plans to "accelerate its digital reach and capability". The business will sit within Emap Performance, the digital media arm of Emap's consumer media division.
Paul Keenan, chief executive of Emap Consumer Media, said: "The acquisition of Yospace is another step in our strategy of focussing resources onto faster growth digital platforms and reflects our commitment to innovation be it in magazines, radio, TV or digital businesses.
"Coupled with Emap's marketing reach, brands, content and industry relationships, this acquisition will enable us to move forward in the fast emerging mobile user-generated and video content market."
Yospace is a technology and new -media business which has developed a mobile video-based, user-generated community platform. Its products include the 3 mobile "See me TV" and "Look at me TV" services and its customers include the major mobile network operators in the UK.
The acquisition will put Emap in a strong position in the emerging mobile space, which is becoming increasingly important battle ground for publishers. Emap said the acquisition was consistent with its plans to "accelerate its digital reach and capability". The business will sit within Emap Performance, the digital media arm of Emap's consumer media division.
Paul Keenan, chief executive of Emap Consumer Media, said: "The acquisition of Yospace is another step in our strategy of focussing resources onto faster growth digital platforms and reflects our commitment to innovation be it in magazines, radio, TV or digital businesses.
"Coupled with Emap's marketing reach, brands, content and industry relationships, this acquisition will enable us to move forward in the fast emerging mobile user-generated and video content market."
Yospace is a technology and new -media business which has developed a mobile video-based, user-generated community platform. Its products include the 3 mobile "See me TV" and "Look at me TV" services and its customers include the major mobile network operators in the UK.
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