11th Mar 2005 07:00
Euromoney Institutional InvestorPLC11 March 2005 EUROMONEY INSTITUTIONAL INVESTOR PLC RNS Announcement Not for release before 07.00 hours London time on 11 March 2005 Euromoney Institutional Investor PLC to acquire leading Asian provider of macro-economic data, CEIC Data ("CEIC") Euromoney Institutional Investor PLC ("Euromoney") announced today that it willacquire, through its 91%-owned subsidiary, Internet Securities Inc. ("ISI"),CEIC Holdings Limited and its related companies ("CEIC"). From its headquartersin Hong Kong, CEIC is one of the leading providers of time-series macro-economicdata covering Asia. Euromoney has initially acquired a 49% interest in CEIC for a cash considerationof US$7 million. In addition, it has entered a binding contract to acquire afurther 25% interest in CEIC in June 2006 and the final 26% a year later. Thesefurther payments are dependent on the audited profits of CEIC for the years to31 March 2006 and 2007 respectively. The maximum consideration payable for 100%of CEIC is capped at US$35 million. The acquisition will be financed fromEuromoney's existing borrowing facility. It is expected to be earnings-enhancingfor Euromoney for its financial year ending 30 September 2005. The acquisition opens ISI's international customer network to CEIC, presentingnew markets around the world for CEIC's database products. It accelerates ISI'sgrowth in Asia by enabling ISI to introduce its global emerging market servicesto CEIC's Asian customer base, and by expanding ISI's physical presence inSouth-east Asia. It also continues ISI's strategy of building its regional andglobal emerging markets information services through the acquisition of localonline information providers. CEIC was founded 12 years ago by Albert Fan, its managing director and owner. Itspecialises in providing high-quality, comprehensive databases focusing on Asianmacro-economic, industrial and financial time-series data. It aggregates datafrom 500 primary sources, including national statistical offices, central banksand financial exchanges. In addition to its headquarters in Hong Kong, CEIC hasoffices in Shanghai, Beijing, Kuala Lumpur, Singapore, Jakarta, Manila andBangkok. It employs 90 staff. "We are delighted to acquire CEIC and to receive the continuing support ofAlbert Fan," said Gary Mueller, founder and Chairman of ISI and a director ofEuromoney. "CEIC is regarded as the leading provider of time-series economicdata in Asia, and we are very pleased to be able to work closely with the CEICteam to further their expansion in Asia and the rest of the world. Also, thefit between ISI and CEIC is excellent: we complement each other well in terms ofgeographic focus, with very little overlap in the information and data wecollect and provide. The combination of ISI and CEIC will enhance the abilityof both companies to deliver superior services." Commenting on the acquisition, Albert Fan, Managing Director of CEIC, said: "Weare excited about working with ISI and Euromoney to enhance our position as theleading provider of research data in Asia. The international reach of theEuromoney and ISI brand names and the global network of ISI offices andcustomers will facilitate the distribution of CEIC services outside Asia. Welook forward to working with the ISI team to develop and deliver outstandingdata services." Ends Note to editors: About Euromoney Institutional Investor PLC Euromoney Institutional Investor PLC is listed on the London Stock Exchange andis a member of FTSE 250 share index. It is a leading internationalbusiness-to-business media group focused primarily on the international financesector. It publishes more than 100 magazines, newsletters and journals,including Euromoney and Institutional Investor. It also runs an extensiveportfolio of conferences, seminars and training courses, and is a leadingprovider of electronic information and data on international finance andemerging markets. It acquired a controlling interest in ISI in January 1999. About ISI Emerging Markets Based in New York, ISI Emerging Markets (trading as Internet Securities Inc.)has a network of 26 offices around the globe. It delivers hard-to-getinformation on over 70 emerging markets through its flagship Emerging MarketsInformation Service (EMIS). Available through 15 language interfaces, itaggregates and produces unique content including full-text news articles,financial statements, company information, industry analyses, equity quotes,macroeconomic statistics and market-specific information. EMIS offers powerfulsearch capabilities with in-depth, timely and comprehensive coverage, which arederived directly from more than 9,000 local and global publications. ISI Emerging Markets has recently been nominated for a Codie Award from theSoftware & Information Industry Association (SIIA) in the "Best ContentAggregation Service" category. ISI has also been awarded "Best of the Web"ratings for the past four years by Forbes magazine, and was named "ForbesFavorite" in 2004. ISI and its services have continuously earned outstandingrecognition and product reviews, including "perfect scores" in all categoriesand a "must have" ranking from Information World Review. For further information, please contact:1) Richard Ensor, Managing Director of Euromoney Institutional InvestorPLC:London +44 207 779 8845. Email: [email protected] 2) Colin Jones, Finance Director of Euromoney Institutional Investor PLC:New York +1 212 224 3930. Email: [email protected] 3) Gary Mueller, Chairman of ISI, and Director of Euromoney InstitutionalInvestor PLC: New York +1 212 610-2915. Email: [email protected] 4) Christopher Fordham, Development Director, Euromoney InstitutionalInvestor PLC:London +44 207 779 8057. Email: [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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