IHS Markit, the research group, is handing over its entire media and telecoms division to Informa in return for that company’s Agribusiness Intelligence group.
“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 Carter, CEO of Informa, in a joint statement.
Carter added: “At Informa we are focused on improving our depth and specialisation around attractive customer markets. 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.”
The agreement values the two exchanged businesses at equivalent EBITDA multiples, with Informa contributing an additional $30 million cash to IHS Markit. The transaction is expected to close in July.