The UK-based B2B media and info giant Informa keeps getting bigger through acquisitions: it has agreed to buy market-intelligence firm Datamonitor for 502 million GBP ($994.9 million) in cash, or 650 pence per share, reports WSJ. The acquisition will add extra business data and content to its portfolio — especially in the health-care, financial-services and telecom sector — and expects to achieve cost savings of 3 million GBP a year through the deal.
FT: Datamonitor, based in UK, provides online information on the automotive, consumer and retail, energy, financial services, healthcare, and technology sectors, while Informa is a business publisher and includes Lloyd’s List, the bible for the shipping and insurance markets, among its titles. It also has the media/telecoms division which holds the 3GSM and MEM conference related to mobile and content markets, among others. It is world’s largest publicly owned organizer of conferences and courses and runs more than 10,000 events annually.
Last year Informa turned down a 630p-a-share approach from rival Springer Science and Business Media, the world’s second largest academic publisher which is owned by private equity groups Cinven and Candover, in favor of remaining independent. More info in the release here.