iMedia Brands announces acquisitions of Float Left Interactive, J.W. Hulme
iMedia Brands announced two important accretive acquisitions, Float Left Interactive and J.W. Hulme. Both accelerate the company's interactive media growth strategy and position it for growth in 2020. Float Left Interactive is a technology provider delivering OTT and TV-Everywhere solutions to media companies seeking to reach audiences through Roku, Apple TV, Amazon Fire, mobile devices and smart TVs. iMedia plans to utilize Float Left's talented team and proprietary technology platform to further grow its content delivery capabilities in OTT platforms while providing new revenue opportunities for Float Left's SaaS customers. This acquisition is important to iMedia's strategy to engage today's millennial, "cord-cutting" viewers within their own preferred interactive video platforms. J.W. Hulme is an e-commerce brand offering artisan-crafted accessories and apparel for both women and men. The brand began making durable tents for the U.S. army in World War I, and today offers a wide range of handbags, accessories and apparel through e-commerce, catalogs and its flagship retail store in St. Paul, Minnesota. iMedia's investment thesis centers on accelerating Hulme's revenue growth by creating its own programming on ShopHQ, iMedia's national television platform. In addition, Hulme's talented team will drive iMedia's revenue growth by crafting private-label accessories for ShopHQ's existing owned and operated fashion brands. Both acquisitions were largely financed in iMedia stock.