Skip to main content

iMedia Brands Accelerates Growth Strategy with Two Interactive Acquisitions

Written by Customer Service on . Posted in Mergers And Acquisitions.

MINNEAPOLIS, Nov. 26, 2019 (GLOBE NEWSWIRE) — iMedia Brands, Inc. (NASDAQ: IMBI) today announced two important accretive acquisitions, Float Left Interactive and J.W. Hulme. Both accelerate the company’s interactive media growth strategy and position it for growth in 2020.
Float Left Interactive is a leading technology provider delivering OTT and TV-Everywhere solutions to media companies seeking to reach audiences through Roku, Apple TV, Amazon Fire, mobile devices and smart TVs. Founded in 2009 and launching hundreds of OTT apps to date, Float Left has become the industry leader, serving a portfolio of clients including NBC, Comcast, CBS and Fox.iMedia plans to utilize Float Left’s talented team and proprietary technology platform to further grow its content delivery capabilities in OTT platforms while providing new revenue opportunities for Float Left’s SaaS customers. This acquisition is important to iMedia’s strategy to engage today’s millennial, “cord-cutting” viewers within their own preferred interactive video platforms.Tim Peterman, iMedia CEO said: “Live streaming and OTT marketplaces are global interactive media opportunities and I can’t think of anyone more qualified to lead our effort than Float Left’s President Tom Schaeffer.”Schaeffer commented: “Joining forces with the right partner is critical in today’s interconnected, interactive media landscape. iMedia is that perfect partner for us. Our entrepreneurial cultures and visions for live streaming are perfectly aligned.”J.W. Hulme is an iconic, 114-year-old American e-commerce brand offering artisan-crafted accessories and apparel for both women and men. The brand began making durable tents for the U.S. army in World War I, and today offers a wide range of handbags, accessories and apparel through e-commerce, catalogs and its flagship retail store in St. Paul, Minnesota.iMedia’s investment thesis centers on accelerating Hulme’s revenue growth by creating its own programming on ShopHQ, iMedia’s national television platform. In addition, Hulme’s talented team will drive iMedia’s revenue growth by crafting private-label accessories for ShopHQ’s existing owned and operated fashion brands.“The J.W. Hulme team have done an amazing job developing this brand to where it is today,” continued Peterman. “We at iMedia take our role as brand stewards for their next level of growth seriously, and we look forward to working with their team to harness our unique collection of assets.”Dean Vanech, Olympus Capital Investments CEO and owner of J.W. Hulme said: “We are pleased that iMedia has purchased this iconic American company. Hulme’s amazing leather and canvas products and iMedia’s exceptional marketing skills make the transaction a natural fit. And having iMedia based in Minnesota is a bonus. We believe with iMedia as our partner, this brand will grow for at least another 100 years.”Both acquisitions were largely financed in iMedia stock. More information on the transactions can be found in an 8-K that will be filed with the Securities and Exchange Commission.About iMedia Brands, Inc.iMedia Brands, Inc. (NASDAQ: IMBI) is a global interactive media company that manages a growing portfolio of niche, lifestyle television networks and web service businesses, primarily in North America, for both English speaking and, soon, Spanish speaking audiences and customers. Its brand portfolio spans multiple business models and product categories and includes ShopHQ, Bulldog Shopping Network, iMedia Web Services and soon-to-be-launched LaVenta Shopping Network. Please visit www.imediabrands.com for more investor information.Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This release contains statements, estimates, projections, guidance or outlooks that constitute “forward-looking” statements as defined under U.S. federal securities laws. Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “plan,” “project,” “should” and similar expressions identify forward-looking statements, which generally are not historical in nature. These statements may contain information about our prospects, including anticipated show, event, or product line launches, and involve risks and uncertainties. We caution that actual results could differ materially from those that management expects, depending on the outcome of certain factors.Contacts:Investors:
Gateway Investor Relations
Cody Slach
IMBI@gatewayir.com
(949) 574-3860Media:
press@imediabrands.com
(800) 938-9707

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.