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Acquisition of DIIG(E)

28th Oct 2013 06:00

DAILY MAIL & GENERAL TRUST PLC - Acquisition of DIIG(E)

DAILY MAIL & GENERAL TRUST PLC - Acquisition of DIIG(E)

PR Newswire

London, October 25

28 October 2013 Daily Mail and General Trust plc (`DMGT') Acquisition of DIIG(E) dmg information ("dmgi"), the business information division of DMGT, has agreedto acquire the entire share capital of DIIG EUROPE for consideration of £75million, from Decision Insight Information Group ("DIIG"), a portfolio companyof the US private equity firm TPG Capital. DIIG EUROPE is the UK and Ireland's leading property searches group, primarilydelivering residential and commercial property search results to legalprofessionals, and is based in Kent, England with additional offices inEdinburgh, Scotland and Dublin, Ireland. DIIG EUROPE'S ("DIIG(E)") business comprises SearchFlow Limited (England &Wales, www.searchflow.co.uk), Millar & Bryce Limited (Scotland,www.millar-bryce.co.uk), Rochford Brady Legal Services Limited (Ireland,www.rochfordbrady.ie), Decision Insight Hub Limited (also known as NLIS Hub)and Decision First Limited. The acquired businesses had revenues of £69 million and operating profit of £6million, adopting IFRS, for the year to 31 December 2012. The acquisition is complementary to dmgi's existing businesses in the propertysphere and is consistent with dmgi's strategy of adding products and servicesto enhance its overall offering. Marshall King, CEO of DIIG(E), said: "DIIG(E) is a natural fit for dmgi and wewill benefit from their long term commitment to the UK property informationmarket. We have just had a strong year achieving record customer satisfactionand offering new products and solutions from a wide range of providers to ourextensive customer base in the UK and Ireland." Suresh Kavan, CEO of dmgi, said: "Acquiring this group of outstanding companieswill greatly increase our strategic reach at a time of great opportunity in theproperty information industry. We are delighted to welcome them to ourportfolio of companies." For analyst and institutional enquiries Stephen Daintith, Finance Director, DMGT +44 20 3615 2902 Adam Webster, Head of Management Information and Investor Relations, DMGT +44 20 3615 2903 For media enquiries Kim Fletcher / Charlie Potter, Brunswick Group +44 20 7404 5959 About DMGT DMGT is an international business built on entrepreneurship and innovation. Webring together leading companies and talented people to provide businesses andconsumers with high-quality analysis & insight, information, news andentertainment. Daily Mail and General Trust plc Northcliffe House, 2 Derry Street, London, W8 5TT www.dmgt.com

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