Futuremedia acquires Button
Futuremedia has strengthened its move into the branded learning market by completing its acquisition of branding company Button for £5.3m.

Leonard M. Fertig, Chief Executive Officer of Futuremedia said, "The addition of Button Group expands the breadth of our service offering and adds a profitable business to our company. The Button Group brings capabilities in brand design, media, live communications, and an extensive client list that complement our existing online learning and communications expertise. When combined with our recent acquisition of EBC, Futuremedia has transformed into a leading media and services company focused on learning and brand communications. We look forward to leveraging our recent strategic initiatives to drive future growth."

The Button Group is expected to report approximately GBP 10 million ($18.8 million) in annual revenue and approximately GBP 650,000 ($1.2 million) in annual EBITDA for the financial year ending June 30, 2006.

The purchase price is comprised of GBP 3.0 million ($5.6 million) in ordinary shares of Futuremedia plc, issued at the share closing price on May 25th 2006, and GBP 2.3 million ($4.3 million) in cash. The Button Group is a UK brand communications company serving clients worldwide and is headquartered in London with offices in Los Angeles and Cannes.

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