DMGT pays £66m for majority stake in US data business

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Daily Mail and General Trust-owned business publisher Euromoney has paid £66m for an 85 per cent stake in  US-based financial data business Ned Davis Research Group.

According to today’s announcement:Ned Davis Research Group produces data, financial models and charts, and gives clients commentaries and independent intelligence for their asset allocation strategies.  Using more than 200 data providers, Ned Davis Research Group has access to 12 million data series and publishes over 20,000 charts and graphs to help clients understand macro-economic environments and execute asset allocation strategies, ranging from global regions to U.S. styles and sectors.”

DMGT shares have taken a sharp dip since early July – possibly reflecting market fears that the phone-hacking crisis could cause problems for other newspapers. DMGT publishes the Daily Mail, Mail on Sunday and Metro.

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