NEWS4 November 2016
UK – Global business intelligence company Informa has completed its £1.2 billion purchase of US exhibitions and information group, Penton Information Services.
Patrick Martell (pictured), chief executive of the business intelligence division, has now assumed the additional role of chief executive and integration officer for Penton.
The acquisition met all outstanding conditions and fits with Informa’s 2014-17 Growth Acceleration Plan, designed to build platform capabilities, add market-scale and deliver sustainable growth across the group.
Stephen Carter, group chief executive, said: “We are delighted to welcome Penton Information Services to the Group, which adds balance and breadth to our portfolio and increases our scale in the US.
“Our primary focus is to deliver the 2016 financial targets for Informa, and to maintain operational discipline through the early part of 2017 – a key period in which several major exhibitions are held and when business intelligence subscriptions are renewed."
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