2nd Aug 2018 09:11
LONDON (Alliance News) - Business information company Euromoney Institutional Investor PLC said Thursday it has acquired Random Lengths, a price reporting agency specialising in the North American lumber and panels markets.
Euromoney will buy Random Lengths for USD18.2 million cash, of which USD2 million is deferred for up to 18 months.
In 2018 Random Lengths its expected to record USD1.1 million in earnings before interest, taxes, depreciation, and amortization.
"The acquisition of Random Lengths is an important step in our strategy...By integrating these businesses alongside our metals & mining services, we will further establish our position as a global leader in the commodity price reporting industry," said Euromoney Chief Executive Officer Raju Daswani.
Shares in Euromoney were down 0.4% at 1,364.00 pence on Thursday.
Related Shares:
ERM.L