6th Dec 2018 08:24
LONDON (Alliance News) - Euromoney Institutional Investor PLC on Thursday said it has agreed to buy The Deal LLC and BoardEx, for USD87.3 million in cash from Nasdaq-listed TheStreet Inc.
BoardEx is an executive profiling and relationship mapping platform providing users with business leaders' profiles, while The Deal provides data and news on mergers and acquisitions.
"Combining these platforms, and integrating them with Euromoney's existing portfolio, will create a powerful and unique workflow tool serving multiple industries," the information and events company said.
The cash sum payable for the acquisition will be satisfied from Euromoney's existing facilities. The acquisition, expected to be completed in the first quarter of 2019 and will be earnings-enhancing for Euromoney from its current financial year.
Euromoney shares were trading up 0.6% at 1,288.00 pence each.
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