GlobalData To Buy Research Views In GBP100 Million Deal (ALLISS)

29th Mar 2018 13:56

LONDON (Alliance News) - Data insight firm GlobalData PLC said Thursday it has proposed to acquire Research Views Ltd in a deal worth GBP99.8 million.

GlobalData will pay for the deal using 16.0 million shares in the company, worth around GBP90.0 million based on the average price of 564 pence per share over the last month. In addition, GlobalData will assume GBP9.8 million in net debt on completion.

Research Views is controlled by GlobalData Chief Executive Officer Mike Danson amongst other shareholders.

In 2017, Research Views generated earnings before interest, tax, depreciation and amortisation of GBP2.1 million on revenue of GBP27.0 million. The acquisition is expected to be earnings enhancing from the first full year of ownership.

In 2017, GlobalData generated Ebitda of GBP23.4 million on revenue of GBP121.7 million. Pretax losses narrowed to GBP785,000.

GlobalData expects to be able to extract annualised synergies of around GBP1.0 million. This is expected to be completed by the end of 2018.

"This transaction consolidates the group's transformation into a global data and analytics business with a truly differentiated multi-industry offering," GlobalData Chairman Bernard Cragg said. "It is consistent with our focusing on data and analytics by strengthening our existing industry offerings and expanding the industries we cover."

"The market outlook for data and analytics is encouraging with real and achievable opportunities for profitable growth", Cragg added.

Shares in GlobalData were 2.4% higher at 624.49 pence on Thursday.

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