IHS Markit swaps group that researches optical communications for Informa’s agribusiness unit
IHS Markit will send most of its Technology, Media and Telecoms (TMT) group to Informa in exchange for the latter’s Agribusiness Intelligence group and $30 million in cash.
Market research and analysis firms IHS Markit (NASDAQ: INFO) and Informa (LSE: INF.L) have agreed to swap business units. IHS Markit will send most of its Technology, Media and Telecoms (TMT) group to Informa in exchange for the latter’s Agribusiness Intelligence group and $30 million in cash. TMT includes IHS Markit’s coverage of the optical communications space. IHS will keep RootMetrics, its benchmarking business, and an unidentified part of its market intelligence business. The two companies expect to close the deal in July 2019.
“This agreement is very positive for both IHS Markit and Informa, increasing the focus of each company on core markets where it has particular strengths and a long-term commitment to invest and grow,” said Lance Uggla, CEO of IHS Markit and Stephen A. Carter, group chief executive, Informa PLC, in a joint statement.
“The Informa Agribusiness Intelligence portfolio is a clear extension of our Chemical and Downstream businesses and builds our existing data, pricing, insights, forecasting and news services within our Resources segment,” added Uggla. “Agriculture is the largest end chemical market in the world and this transaction expands our capabilities into fertilizers and chemical crop protection, while substantively expanding our capabilities in biofuels.”
“At Informa we are focused on improving our depth and specialization around attractive customer markets,” said Carter. “Our ambitions for Informa Tech will be further enhanced by the addition of the IHS Markit TMT portfolio, extending our customer and international reach, creating a strong platform for future growth.”
IHS Markit built TMT in large part through the acquisition of Infonetics Research for an undisclosed sum in 2014. In addition to market research (through such businesses as Heavy Reading and Ovum), Informa produces a large number of events. It also owns Light Reading, Telecoms.com, and Information Week.
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