Intermedia’s hospitality vertical in Australia includes 10 B2B print/digital publications and 7 specialist industry events.
This will give Big Un access to about 65,000 unique businesses, 100,000 individual digital subscribers, 63,000 individual print subscribers and 4000 event attendees/delegates.
Big Un is the parent company of Big Review TV which delivers subscription based video technology products and services, and third party video content.
Intermedia’s hospitality clients will be on-boarded and given Big Un’s auto-generated video technology and offered video subscription packages.
Moreover, larger advertisers and event attendees will be offered access to Big Un’s video marketing content, and its advertising and sponsorship packages.
Big Un anticipates the roll out of auto-generated video to at least 65,000 businesses that will provide the opportunity for a significantly enhanced product uptake.
The acquisition is based upon a valuation of $4 million, which is 4 x EBITDA.
The proposed transaction includes the issue of 2.67 million Big Un shares at a price of $0.90 and a cash component of $1.6 million over a 12-month period.
The acquisition is expected to be completed in September 2017, subject to due diligence.
Big Un’s share price has almost quadrupled since the start of 2017, closing at $0.86 on Tuesday.