Future buys shopping comparison business Next Commerce

16th Aug 2016 12:23

(ShareCast News) - Media group Future has acquired digital shopping comparison business Next Commerce for an undisclosed cash consideration.Next, which has operations in Australia and across South East Asia, generated revenue of AUD3.3m (£1.9m) for the year to the end of June 2016.Future has rapidly growing e-commerce revenues in its UK and US businesses and said the deal will enable it to accelerate its growth in this region by leveraging its online media brands such astechradar.com, gamesradar.com and pcgamer.com.Chief executive officer Zillah Byng-Thorne said: "This acquisition further diversifies our revenue, an important element of our strategy. It will also strengthen our presence in e-commerce, which is increasingly becoming a key part of our business. "Over the last two years, we have demonstrated the significant value that can be created through combining high-quality content that connects with a consumer focussed e-commerce offering."Future shares were untraded on Tuesday.