Emap buys Yospace

UK media group Emap has purchased the mobile user-gen specialist Yospace for a maximum of £14.4 million.

The addition of Yospace should accelerate the digital reach of Emap, which owns ‘old media’ brands such as FHM, Heat, Q and Empire. The company is already active in mobile with these brands, but Yospace will bring valuable community-oriented ideas to the offering.

Yospace is best known for powering See Me TV for 3UK and its own Look at Me brand for O2, both of which allow users to upload videos and share in the resulting download revenues. Under Emap, the company will continue to market these services to new operators both in the UK and overseas. 

However, Emap expects to roll out similar Yospace powered services based around its brands. It also believes the Yospace technology platform can be used to explore new revenue streams from advertising.

Dharmash Mistry, MD of Emap Performance, said: “We are delighted to acquire the innovative team and technology behind the See Me TV and Look At Me TV brands. Coupled with Emap’s marketing reach, brands, content and industry relationships, this strategic move parachutes us to the forefront of the emerging mobile user generated and video content market.”

Tim Sewell, CEO of Yospace, said: “Being part of Emap will enable Yospace to accelerate product development and new services, and deliver enhanced support to our customers in the mobile operator space globally.”

Emap Performance, the digital wing of Emap Consumer Media, made the acquisition, with the final amount contingent on Yospace’s operating performance to March 31st 2010.