Lagardere SCA continues to build its expertise in sports management. After Sportfive and Newsweb, the acquisition of 100% of IEC strenghtens Lagardere Sports in production of events, products and sports rights management. EC had sales of €17 million in the fiscal year ended last Aug 31 with strong profitability (€4.1m).The acquisition package plans for an initial €43 million and a maximum of €37 million over the next 3 years.
IEC owns rights to 225 sports events worldwide. Around the event, they package products, mostly TV, which can be resold on an international basis. How will Lagardere leverage its know-how in this field : start looking at sharing the customer database, increase the number of customers on each single event or increase the number of events sold to each customer.
Well done, no?