Future plc (LSE:FUTR) agreed to acquire Portfolio of Wealth, Knowledge and B2B Pro Technology Specialist Brands of Dennis Publishing Limited for approximately ?300 million on August 16, 2021. The purchase price of approximately ?300m is to be satisfied in cash on completion, subject to normal closing adjustments. Under the terms of the acquisition, the sellers have agreed to pay Future a minimum of ?8m and a maximum of ?10m within 12 months of completion. The titles being acquired The Week UK / The Week US, The Week Junior UK / The Week Junior US, MoneyWeek, Kiplinger, Science & Nature, IT Pro, Computer Active, PC Pro, Minecraft World, and Coach. The brands retained by Dennis Publishing are Viz, Fortean Times, Cyclist and Expert Reviews. The acquisition is being funded via the Future plc debt facility of ?600 million. Portfolio of Wealth, Knowledge and B2B Pro Technology Specialist Brands reported revenue of ?104.8 million and EBIDTA of ?20 million as of December 31, 2020. Completion of the acquisition is conditional upon, among other things, expiration of the applicable waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976. The transaction is eexpected to close in October 1, 2021. The acquisition is eexpected to be materially earnings enhancing in the first full year of ownership with ROIC eexpected to exceed the Group's WACC within the first full year of ownership. Expected cost synergies are ?5m per annum, to be achieved by FY2023. They represent 25% of Dennis' FY2020 EBITDA. Nick Westlake, Mark Lander, Alec Pratt and Hugo Rubinstein of Numis acted as financial adviser of Future.