Euromoney Institutional InvestorPLC Acquisition of WealthEngine (8409H)
08 December 2020 - 6:00PM
UK Regulatory
TIDMERM
RNS Number : 8409H
Euromoney Institutional InvestorPLC
08 December 2020
EUROMONEY INSTITUTIONAL INVESTOR PLC
ACQUISITION OF WEALTHENGINE
8 December 2020
Euromoney builds scale and expertise in People Intelligence
with the acquisition of WealthEngine
Euromoney Institutional Investor PLC ("Euromoney" or "the
Group"), the global B2B information services provider of price
discovery, essential market intelligence and events, announces the
acquisition of WealthEngine, Inc. ("WealthEngine") for $14.5m.
WealthEngine is a SaaS platform providing data-driven
intelligence and predictive analytics to wealth managers, luxury
brands and not-for-profit organisations. It is a workflow tool
which profiles US individuals and is used by its clients for
prospecting potential donors or customers. Revenues are derived
predominantly from subscriptions, which attract high renewal
levels.
The acquisition of this 3.0 business adds scale to the Group's
People Intelligence business, which now comprises WealthEngine,
Wealth-X and BoardEx. WealthEngine is complementary to the recently
acquired Wealth-X, whose database provides comprehensive profiles
for more in-depth screening of, and intelligence on, high and
ultra-high-net-worth individuals.
When combined with the relationship mapping capabilities of
BoardEx, which help clients identify ways to reach potential
customers through a proprietary "relationship map" as well as
providing up-to-date information about targets' professional lives,
the Group now has full coverage across the wealth intelligence
value chain, which is a growing information-services market.
WealthEngine's Annual Contracted Value ("ACV") of subscriptions
and pro-forma EBITDA(1) for the 31 December 2020 financial year are
expected to be $15.0m and $2.0m respectively.
This highly complementary acquisition is expected to enhance the
operating profit margin of People Intelligence and deliver
accelerated growth over the medium-term. As a result, the
acquisition is expected to be earnings accretive for Euromoney and
deliver ROI above WACC in the current financial year.
James Lavell, CEO People Intelligence, Euromoney, said: "The
acquisition of WealthEngine is a great addition to the Group and
supports our strategy by adding further scale to our 3.0 People
Intelligence business. It brings leading technology, workflow
solutions and must--have data, which, when combined with Wealth-X
and BoardEx, will enhance significantly the value we provide
customers."
-Ends-
For further information, please contact:
Euromoney Institutional Investor PLC
Wendy Pallot, Chief Financial Officer: +44 (0)20 7779 8845;
wendy.pallot@euromoneyplc.com
Jo Britten, Head of Investor Relations: +44 (0) 20 7779 8888;
jo.britten@euromoneyplc.com
FTI Consulting
Charles Palmer / Jamie Ricketts / Amy Hurnell / Jamille Smith:
+44 20 3727 1000; euromoney@fticonsulting.com
About Euromoney Institutional Investor PLC
Euromoney is a global information business providing essential
B2B information in price discovery, market intelligence and events
across our segments. Euromoney is listed on the London Stock
Exchange and is a member
of the FTSE 250 share index. www.euromoneyplc.com
LEI number: 213800PZU2RGHMHE2S67
(1) Pro forma EBITDA is for the year ended 31 December 2020,
excluding one-off items, transaction and integration costs
--------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ACQGZMGZZNGGGZZ
(END) Dow Jones Newswires
December 08, 2020 02:00 ET (07:00 GMT)
Euromoney Institutional ... (LSE:ERM)
Historical Stock Chart
From Apr 2024 to May 2024
Euromoney Institutional ... (LSE:ERM)
Historical Stock Chart
From May 2023 to May 2024