Top 100 law firm Foot Anstey has advised FTSE 250 media enterprise Future plc on its purchase of video content creator Barcroft Studios.
Future, a global multi-platform media company with offices in Bath, London and New York, acquired the production house, whose work has been shown on platforms ranging from the BBC to Netflix, for a total of £23.5 million.
The deal is the latest in a string of acquisitions by Future, including TI Media last month, and bookends a strong year for the company which announced in its year end results that revenue has jumped by 70 per cent, and pre-tax profits are up to £12.7 million.
The purchase of Barcroft will also allow Future to leverage the studio’s video expertise across its range of titles, which includes websites such as TechRadar and GamesRadar.
Corporate Partner Mark Millar, assisted by Chris Cook and Arron Jolliffe, led the Foot Anstey team advising on the deal. Mark said “Purchasing Barcroft Studios is a decisive move by Future, who are clearly thinking about the shape of the media landscape in years to come.”
“Acquiring this prestigious video production company, which produces content for the likes of the BBC and Netflix, will help Future to deliver that ambition.”
Sarah Hill, Head of Legal at Future said, “It was great to work with Foot Anstey on implementing a key transaction within our acquisition strategy. Under what was a very tight timetable, the Foot Anstey team’s pragmatism, commitment and drive to push matters forward was greatly appreciated, and we felt like their team was an extension of ours given the collaborative working relationship.”