Ascential Sells MEED to GlobalData for USD 17.5m.
M2 EQUITYBITES-December 15, 2017-Ascential Sells MEED to GlobalData for USD 17.5m
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15 December 2017 - UK-based business-to-business information company Ascential plc (LSE: ASCL) has agreed the sale of MEED to GlobalData for a consideration of USD 17.5m, payable in cash and subject to normal working capital adjustments, the company said.
This concludes the Heritage Brand disposal process announced earlier in the year. The sale has completed and the proceeds will be used to reduce Ascential's net debt.
MEED provides premium business information content with an industry focus on infrastructure and projects in the Middle East. The business services its growing client base principally through annual subscription contracts.
GlobalData said the acquisition of MEED supports the Group's strategy of expanding its premium subscription based services into global markets and adds a further vertical industry to the Group's offering. MEED has quality proprietary content and brings deep regional and sector expertise to the Group.
Ascential is a global business-to-business information company that informs and connects the business world in 150 countries through market-leading exhibitions and festivals and information services.
Ascential powers the global trend forecasting service WGSN, environmental risk data business Groundsure, e-commerce analytics provider One Click Retail, the prestigious Cannes Lions festival for the branded communications industry, the world's premier payments and financial services congress Money20/20 and MediaLink, a US-based advisory and business services firm.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Dec 15, 2017|
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