On July 28, 2015, Torstar Corporation, a broadly based media company, completed its $200 million acquisition of a 56 percent interest in VerticalScope Holdings Inc., a digital media company that owns and operates more than 600 consumer enthusiast online forums and premium content sites across North America.
Under the agreement, Torstar has acquired ABRY Partners’ minority interest in VerticalScope along with more than one third of the shares held by shareholders, with whom Torstar shares control. The aggregate consideration paid by Torstar was $200 million based upon an enterprise value of $404 million.
This acquisition will better position Torstar for a more digitally oriented future.
Osler represented Torstar with a team comprised of Terry Burgoyne and Justin Dharamdial (Mergers & Acquisitions), Laurie Barrett (Banking and Finance), Shuli Rodal (Competition & Antitrust), Allen Wells and Colin Kelly (Employment & Labour), Anthony Devir (Pensions & Benefits), Lee Webster (Intellectual Property), Kimberley Wharram and Paul Seraganian (Tax).