Acquisition of British Gardening On-line Completed
365 Corporation PLC
14 March 2000
365 Corporation plc acquires British Gardening On-line, expanding its
Lifestyle portfolio
365 Corporation plc ('365') the provider of content, community and
communications services across multiple digital platforms announces that it
has completed the acquisition of the entire issued share capital of Oxalis
Limited ('Oxalis').
Oxalis, which was founded in 1996, is a provider of premium quality digital
content and commerce relating to gardening and is the owner of the British
Gardening On-line website, www.oxalis.co.uk
The total consideration for Oxalis is £225,000 satisfied as to £180,000, by
the issue of 69,204 shares of 365 and as to £45,000 in cash together with a
further payment of up to £225,000 in cash dependent on turnover of Oxalis in
the 12 months following acquisition.
Following the acquisition of Oxalis, the British Gardening On-line site will
be rebranded Gardening365 and become part of the extensive 365 network. The
current director and sole shareholder of Oxalis, Julian Symondson, will remain
with the company to integrate and develop Gardening365.
Gardening is one of the most popular, and enduring, of hobbies and interests
in the UK, with recent expansion of media coverage broadening its appeal to a
younger audience. The total gardening market in the UK is valued at £2.8
billion and is forecast to grow 32% over the next 5 years1. It is
characterised by stability and predictability with online retailing and e-
commerce forecast to grow rapidly.
Commenting on the acquisition, Dan Thompson Chief Executive Officer of 365
said:
'Gardening is one of the great British passions, and we intend to grow
Gardening365 into one of the cornerstone brands of our lifestyle division.
It's great to have Julian on board, to help us maximise the community and
revenue potential of this huge and untapped online market.'
Julian Symondson of Oxalis said:
'I am delighted to be joining 365 to develop truly compelling gardening
content. In addition to creating the most entertaining, informative gardening
web site in Europe, e-commerce will be a key component of the project. I
expect to be able to offer 365's community of customers an unbeatable range of
products.
Furthermore I am looking forward to taking Gardening365 services onto new
platforms such as WAP and even developing entirely new services using 365's
expertise in areas such as premium rate call servicing.'
1 Source Mintel April 1999
Enquiries:
365 Corporation plc Tel: 020 7505 7800
Nik Philpot, Director
Simon Morris, Director
www.365corp.com
Financial Dynamics Tel: 020 7831 3113
Giles Sanderson
Fiona Meiklejohn
NOTES FOR EDITORS - 365 Corporation plc
CURRENT CONTENT AND SERVICE OFFERINGS
Consumer
Sport
Football - www.football365.com (English), www.futbol365.com (Spanish),
www.football365.fr (French), www.talkfootball365.com (Football content on a
cross platform basis via TalkFootball365, a telephone and Internet service).
Cricket - www.cricinfo365.com (daily e-mail publication in joint venture with
CricInfo), www.cricketline.com (a leading site for International cricket,
complete scorecards of every Test match ever played).
Rugby - www.rugby365.com (produced in four language versions - English,
French, Spanish, Afrikaans), www.rugbyrugby.com (North American rugby
website), www.planet-rugby.com (a market leading online rugby resource
including breaking news, unique statistics).
Racetips: www.racetips.com (a site dedicated to Horse Racing giving the inside
track on news, form and the horses to follow).
Formula 1: www.planet-f1.com (website featuring news, features and a
searchable archive of every race in F1 history).
Sports Overview: www.sportszine.co.uk (complete guide to sport on the Internet
through a searchable database of over 40,000 individually reviewed websites),
www.sportonair.com (UK's first dedicated sports audio website with hourly
news, features and interviews).
Entertainment
Music - www.music365.com (reviews of albums and singles, interviews with
artists and personalities and topical stories, on-line chat forum, on-line
shopping facilities for concert tickets, CDs and videos).
Competitions - www.win365.co.uk (a cross-platform competition based product).
Games - www.planet-trivia.com (a network of live, multiplayer trivia games
where users can compete in real time against anyone else in the world on a
variety of topics including television, education, history, entertainment and
sport and win prizes).
365Television - The first production, a documentary on boxer Mike Tyson's UK
fight, was commissioned by the BBC and recently aired on BBC Choice and BBC2.
Lifestyle
Companionship - www.personals365.com (an on-line companionship product),
www.theswitch.co.uk (a multi-platform product using the web and telephone for
chat).
Advisory services - telephone-based services to users. 365 provides telephone
lines and systems and Infogenie procures the advisory services, currently for
legal services and veterinary services.
365Television - The first production, a documentary on boxer Mike Tyson's UK
fight, was commissioned by the BBC and recently aired on BBC Choice and BBC2.
Business
The Business Division provides communication services and Internet
applications to small and medium sized enterprises in the UK and Ireland. It
aims to provide a 'one stop shop' of communications services and Internet
applications to its customers. 365 currently provides voice and data access,
telephone systems, mobiles, Internet access and related hardware. In order to
work towards national coverage, 365 has formed equity joint ventures with 12
telecom systems dealers across the UK. Under these arrangements, 365
contributes its expertise and access to its customer service and billing
infrastructure, while the dealer contributes local sales and marketing
expertise. The existing customer base of the joint venture partners provides
the initial target for 365's marketing efforts.