Euromoney Institutional Investor PLC (LON:ERM) has agreed to acquire BoardEx and The Deal, from parent company TheStreet, for US$87.3mln.
BoardEx is an executive profiling and relationship mapping platform, while The Deal is a trusted source of data, news and intelligence on mergers and acquisitions, activist investing, private equity and restructuring.
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Euromoney said the combined products had a consistent track record of growth in revenue and earnings over recent years which it expects to continue. In the year to 30 September 2018, The Deal’s unaudited revenue was US$25.2mln.
Approval by TheStreet’s shareholders is expected to take place during the first quarter of 2019, Euromoney said.
“I am excited by the acquisition of BoardEx and The Deal, which brings two additional high-quality assets into Euromoney's portfolio and supports our transition towards a next generation 3.0 business model,' Euromoney’s CEO Andrew Rashbass said in a statement.
“The businesses are perfectly placed to grow further under Euromoney ownership, with the group's existing data expected to enhance the BoardEx platform. We look forward to working with the management team and our new colleagues around the world to develop these leading brands and take advantage of the compelling growth opportunities they offer.”