Informa sells business information companies to Progessive

Informa will transfer the businesses to Verdict Research, which will then be bought in its entirety by Progressive.

The deal will be subject to Informa satisfying its statutory obligations.

The acquisition fits with Progressive’s strategy of expanding its premium subscription based services into global markets.

For the financial year ended 31 December 2014, the businesses being acquired made revenues of about £17.8m and adjusted earnings (excluding central overheads) were £3.0m.

Simon Pyper, chief executive of Progressive Digital Media, said: “The acquisition of these businesses will broaden Progressive’s Consumer offering, providing scale and additional categories in an important industry sector. This acquisition will be our largest to date, yet of all the companies acquired by Progressive, these businesses are the ones we are most familiar with. While some investment will be required this year and next, the Board is confident that this acquisition will provide a platform for further growth.”