19th Oct 2006 07:00
Euromoney Institutional InvestorPLC19 October 2006 P R E S S R E L E A S E Embargoed until 7.00 am, Thursday 19 October 2006 Euromoney Institutional Investor to acquire leading derivatives online publisher, Total Derivatives Euromoney Institutional Investor PLC ("Euromoney"), the internationalpublishing, events and data business, announced today that it has signed anagreement to acquire Total Derivatives Limited ("Total Derivatives"), a leadingprovider of real-time news and analysis about the global fixed incomederivatives markets. Euromoney has acquired a 67% interest in Total Derivatives from its co-founderand CEO, Ronan O'Neill, and from employee minority shareholders and financialinvestors. The cash consideration paid on completion of the acquisition was £6.7million. In addition, the management team will stay with the business and haveoptions to sell their remaining shares to Euromoney at prices linked to profitsfor the financial years 2007, 2008 and 2009. For the year to 31 December 2005, Total Derivatives' audited profit before taxwas £0.8 million. At 31 December 2005, Total Derivatives' audited gross assetswere £1.5 million. The acquisition will be financed from Euromoney's existingborrowing facility. It is expected to be earnings-enhancing for Euromoney forits financial year ending 30 September 2007. Total Derivatives was co-founded in 2000 by Ronan O'Neill, who previously spenteight years as a fixed income derivatives trader at UBS and BNP Paribas. Thefirst internet-based business in this sector, Total Derivatives has grownrapidly to become the prime source of information in the global fixed incomederivatives markets. As well as providing market-leading coverage of the bond,swap and options markets, Total Derivatives provides must-have, market-movinginformation on exotic products such as inflation derivatives and rate-linkedstructured notes. "We are delighted to be investing in Total Derivatives and receive thecontinuing support of Ronan O'Neill," said Euromoney Chairman Padraic Fallon."Total Derivatives is a strong and rapidly growing online publishing business,and we are looking forward to working closely with the Total Derivatives team toaccelerate its expansion around the world." Commenting on the acquisition, Ronan O'Neill said: "We are excited aboutbecoming part of the Euromoney Institutional Investor group. Working withEuromoney, we will expand geographically and expand our product range, todeliver a significantly enhanced service to our subscribers." The transaction is subject to a maximum consideration of 24.9% of Euromoney'smarket capitalisation at the date of completion. Ends Note to editors: About Euromoney Institutional Investor PLC Euromoney Institutional Investor PLC is listed on the London Stock Exchange andis a member of the FTSE 250 share index. It is a leading internationalbusiness-to-business media group focused primarily on the international finance,metals, law and energy sectors. It publishes more than 100 magazines,newsletters and journals, including Euromoney, Institutional Investor and MetalBulletin. It also runs an extensive portfolio of conferences, seminars andtraining courses, and is a leading provider of electronic information, data andresearch on international finance and emerging markets. On 5 October, Euromoneyacquired Metal Bulletin plc for £221 million. For further information please contact: Richard Ensor, Managing Director, Euromoney - [email protected] London +44 20 7779 8845 Colin Jones, Finance Director, Euromoney - [email protected] New York +1 212 224 3930 Christopher Fordham, Development Director, Euromoney - [email protected] London +44 20 7779 8057 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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