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Investcorp Sells SourceMedia to Observer Capital

NEW YORK, Aug. 7, 2014 /PRNewswire/ -- Investcorp, a global provider and manager of alternative investment products, announced today that it has completed the sale of SourceMedia to Observer Capital. Terms of the transaction were not disclosed.

Commenting on the transaction, Jonathan Dracos, Head of Corporate Investment North America and Real Estate Investment at Investcorp, said: "We are pleased to have collaborated with SourceMedia’s talented management team to make strategic investments that broadened the company’s revenue sources and positioned it for continued success with Observer Capital. The sale of SourceMedia demonstrates Investcorp’s ability to add value to its portfolio companies across all economic cycles."

Investcorp originally acquired SourceMedia, inclusive of its Accuity affiliate, from the Thomson Corporation in 2004. Through Investcorp's stewardship, SourceMedia made significant investments and changes to the business that advanced its digital-first strategy, significantly diversifying its revenue mix to incorporate digital media, marketing services, events and new categories such as research. In addition, Investcorp spun out Accuity, and worked with its management to position the business as the leading U.S. provider of payment efficiency and risk reduction solutions for global financial institutions. Investcorp sold Accuity to Reed Elsevier in September 2011.

Commenting on the transaction, Jonathan Dracos, Head of Corporate Investment North America and Real Estate Investment at Investcorp, said: "We are pleased to have collaborated with SourceMedia's talented management team to make strategic investments that broadened the company's revenue sources and positioned it for continued success with Observer Capital. The sale of SourceMedia demonstrates Investcorp's ability to add value to its portfolio companies across all economic cycles."

The sale of SourceMedia follows a highly active year for Investcorp's corporate investment group, which deployed $609 million across five acquisitions in the fiscal year ending June 30, 2014 (FY14). In the same period, Investcorp executed eight corporate investment realizations, in an effort to support continued growth of the business and uphold the Firm's commitment to delivering value to clients and shareholders. The Firm returned approximately $1.3 billion in proceeds from realizations and distributions in FY14.

"SourceMedia's partnership with Investcorp has been highly successful and we thank them for their support over the last several years," said Doug Manoni, Chief Executive Officer of SourceMedia. "Through our collective efforts, we were able to develop and implement a highly-successful digital strategy and evolved our business to a digital-first publishing, marketing solutions, and performance-based marketing company – driven by the needs of our dynamic customer base. I greatly appreciate Investcorp's support of our business and look forward to working with Observer Capital to continue strengthening our portfolio of services on behalf of our clients and subscribers."

About Investcorp:

Investcorp is a leading provider and manager of alternative investment products and is publicly traded on the Bahrain Bourse (INVCORP). The Investcorp Group has offices in New York, London, Bahrain, Saudi Arabia and Abu Dhabi. Investcorp has three business areas: corporate investment in the US, Europe and the Gulf, real estate investment in the US and global hedge funds. As at June 30, 2014, Investcorp had $11.4 billion in total assets under management. Further information, including our most recent periodic financial statements, which details our assets under management, is available at www.investcorp.com.

About Observer Capital
Observer Capital, founded in 2013 by Joseph Meyer, is an investment firm focused on private equity and special situation opportunities across the media, finance and business services industries. By bringing partnership and experience to each investment, Observer Capital seeks to enhance value through strategic growth initiatives, operating improvements, technology enhancements and add-on acquisitions. Prior to starting Observer Capital, Meyer had extensive investing experience at Elliott Management and MSD Capital, and served as CEO of Observer Media, a media holding company whose assets include the New York Observer.

About SourceMedia:
Headquartered in New York with 365 employees, SourceMedia is a diversified business-to-business media company serving senior professionals in the financial, technology, and healthcare sectors. Brands include American Banker, The Bond Buyer, Mergers & Acquisitions, Financial Planning, On Wall Street, Accounting Today, Health Data Management, and Employee Benefit News.

Photo - http://photos.prnewswire.com/prnh/20140807/134288

SOURCE Investcorp

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