GlobalData PLC Acquisition of MEED Media FZ LLC (8540Y)
09 December 2017 - 12:45AM
UK Regulatory
TIDMDATA
RNS Number : 8540Y
GlobalData PLC
08 December 2017
8 December 2017
GlobalData Plc (the "Group")
Acquisition of MEED Media FZ LLC
GlobalData Plc is pleased to announce its agreement to acquire
MEED Media FZ LLC ("MEED") from Ascential PLC for a cash
consideration of $17.5m. 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.
Background to the Acquisition
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.
For the financial year ended 31 December 2016, the revenues for
MEED were $18.7m with an EBITDA of $1.7m and it had net liabilities
of $1.7m, largely as a result of its deferred revenues. The cash
consideration will be financed using the Group's existing bank
facilities and the acquisition is expected to be earnings accretive
in the first year of ownership.
Commenting on the acquisition Bernard Cragg, Executive Chairman,
said:
"MEED gives the Group the opportunity to further expand into a
key region and adds an additional industry vertical to our offering
whilst maintaining our disciplined investment criteria of premium
proprietary content and strong renewable subscription based
revenues.
I would like to take this opportunity to welcome our new
colleagues to the Group and wish them every success for the future
within GlobalData."
About GlobalData Plc
4,000 of the world's largest companies make better and more
timely decisions thanks to our unique data, expert analysis and
innovative solutions delivered through a single platform.
At GlobalData, our mission is to help our clients decode the
future to be more successful and innovative.
We are now one of the largest data and insights solution
providers in the world.
ENQUIRIES
GlobalData Plc 0207 936 6400
Mike Danson, Chief Executive
Bernard Cragg, Executive Chairman
N+1 Singer 0207 496 3000
James Maxwell
James White
Hudson Sandler 0207 796 4133
Nick Lyon
This information is provided by RNS
The company news service from the London Stock Exchange
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