Euromoney Institutional Investor to buy Info. Management Network.

Euromoney Institutional Investor (London) has agreed to acquire an 80% interest in Information Management Network (IMN; New York), a financial conference organizer, for a cash consideration of $29 million. The size of three further payments to be made in 2005, 2006 and 2007 are dependent on IMN profits In the preceding year. The remaining 20% interest in IMN is subject to put and call options exercisable in 2008 or thereafter. IMN was represented in the deal by The Jordan, Edmiston Group, Inc. (New York).

For the year ending Dec. 31, 2003, IMN had unaudited revenues of $20 million and pre-tax profits of $7.3 million. The company was established ten years ago to offer educational conferences for the global investment community. Privately owned, it now produces 70 conferences annually. IMN does not compete directly with Euromoney.

Euromoney chairman Padraic Fallon said the deal "brings together two of the strongest names in international financial conferences. We complement each other well, with very little overlap in our activities." In earlier activity, Euromoney, which publishes 80 b2b titles, including Euromoney and Insitutional Investor, acquired Hedge Fund Intelligence (London), a publisher of hedge fund information such as EuroHedge, AstaHedge and InvestHedge, in August 2003.