Leading Media Company Acquires Strategic Stake in New Zealand’s The Hyperfactory

New Zealand headquartered international mobile marketing company, The Hyperfactory, has entered into a strategic alliance with US media company, Meredith Corporation.

Meredith has today acquired a 19.9 percent shareholding in The Hyperfactory for an undisclosed sum.

Meredith Corporation (NYSE: MDP), a 107 year old New York Stock Exchange listed company, reaches over 85 million Americans each month through its roster of well-known media brands including Better Homes and Gardens and Family Circle. One of America’s leading media and marketing companies, Meredith’s fiscal 2008 annual revenues were $US1.6 billion.

Privately owned and founded in 2001 by New Zealand brothers Geoffrey and Derek Handley, The Hyperfactory has rapidly become a major global success story, establishing itself as the world’s expert in mobile marketing.

The company specialises in powering businesses and brands through the mobile medium with award winning, innovative and strategically creative initiatives. Its campaigns have won more mobile marketing awards than any agency worldwide.

“Entering into an alliance with Meredith, a leading media company with vast expertise, experience and resources, will accelerate our global growth at a pivotal stage for the mobile marketing industry,” says Derek Handley. “Being part of such a consortium of leading edge thinkers will stimulate our own creative ideas, design and implementation capabilities, and also create opportunities for us to compete for a whole new tier of clients.”

In addition to its traditional print marketing and advertising business, Meredith has made a number of strategic investments in recent years to broaden its audiences, enhance its online and video content creation expertise, expand its distribution platforms, and increase its sales and marketing capabilities.

“Joining forces with The Hyperfactory provides Meredith’s Integrated Marketing unit with access to the fast-growing mobile category and complements our recent acquisitions in the digital marketing space,” says Jack Griffin, President of the Meredith Publishing Group. “The Hyperfactory’s capabilities fall directly in line with our strategic goals and present significant opportunities for our business-to-business engagements.”

Derek Handley will remain the Chief Executive Officer of The Hyperfactory, with dual headquarters in New York and Auckland.

“Meredith’s stake in The Hyperfactory is an endorsement of our vision and ability to deliver on it,” continues Mr. Handley.  “With Meredith as a strategic shareholder and full business partner we can together leverage the power of mobile across our combined extensive client networks.”

A recent study by Magna Insights shows that within five years the majority of world-wide web users will access the internet using mobile. There are 250 million mobile phones in the US alone with 60 million Americans actively browsing.  Nielson Mobile and eMarketer estimate the US mobile advertising market will grow from $805 million in 2007 to $3.6 billion in 2010.

“Media companies can no longer afford to simply use mobile as a passive channel of communication. They need to actively develop business and brand strategies that include mobile if they are to maintain future connectivity with their customers,” says Mr. Handley.

Says John Zieser, Meredith’s Chief Development Officer, “This strategic move further expands Meredith’s global footprint as well as our ability to serve our clients on this rapidly growing platform. We are continuously seeking out new opportunities to align with market leaders throughout the world.”

ENDS

CONTACTS:

Erica Lloyd for The Hyperfactory / +64 2139 7099 / +64 9306 5813
 erica.lloyd@networkpr.com

Patrick Taylor for Meredith Corporation / +1-212-551-6984 / patrick.taylor@meredith.com

Amanda Cortese for Meredith Corporation / +1-212-551-7087 / amanda.cortese@meredith.com
The Hyperfactory
The Hyperfactory powers businesses and brands through the mobile medium. As the most awarded and oldest independent specialist, they are consistently setting new standards of excellence through their two divisions:
• Agency: Powering brands through integrated mobile strategy, creative, media and execution.
• Technology: Powering businesses through planning, integration and deployment of mobile technology, regardless of the platform, protocol or device.
With a history of winning more industry accolades and recognition than any agency worldwide, clients include Coca-Cola, BlackBerry, L’Oreal, Vodafone, Disney and Kraft.  Privately owned and founded in 2001 by New Zealand brothers Geoffrey and Derek Handley it employs over 100 of the world’s best mobile technology and marketing experts.  The Hyperfactory supports and delivers globally through their network of offices in Auckland, Los Angeles, New York, Chicago, Hong Kong, Sydney and Hyderabad, India.

About Meredith Corporation
Meredith Corporation (www.meredith.com) combines well-known national brands – including Better Homes and Gardens, Parents, Ladies’ Home Journal, Family Circle, American Baby, Fitness and More – with local television brands in fast growing markets. Meredith is the industry leader in creating content in key consumer interest areas such as home, family, health and wellness and self-development. Meredith then uses multiple distribution platforms – including print, television, online, mobile and video – to give consumers content they desire and to deliver the messages of its marketing partners.

About Meredith Integrated Marketing
Meredith Integrated Marketing (www.meredithintegratedmarketing.com) is a leader in relationship media – custom magazines, other print materials, Web sites and other media – that bring brands to life and enhance business performance. With about 250 employees across offices in Des Moines, New York, Los Angeles and Washington, D.C., Meredith Integrated Marketing currently serves some of the world’s leading companies and brands including DaimlerChrysler, Carnival Cruise Lines, Century 21, DIRECTV and Hyundai.