Progressive provides business information to the consumer and technology markets, while Pyramid provides business information and market analysis to the ICT industry.

Progressive has acquired Pyramid, which has offices in London, Boston and Argentina, from UBM for $3.3m. Completion of the deal is scheduled for early January 2014.

Simon Pyper, chief executive of Progressive Digital Media, said: “Pyramid is well known to us and we are delighted that the opportunity has arisen for this business to join the Group.

“Pyramid has a well-regarded brand name, a portfolio of high quality data assets and moreover, an expanding presence in some of the world’s fastest growing markets.”