Progressive Digital Media buys Informa consumer information businesses for £25m

Progressive Digital Media has bought a number of consumer information businesses from business publishing company Informa for £25m.

PDM said this morning that it has acquired Datamonitor Financial, Datamonitor Consumer, MarketLine and Informa's Verdict businesses.

PDM executive chairman Mike Danson founded Datamonitor, which was sold to Informa for £502m in 2007.

The deal does not comprise all of the Datamonitor business which Informa bought in 2007. Informa retains the former Datamonitor healthcare division.

Simon Pyper, PDM's chief executive, 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.

"Whilst some investment will be required this year and next, the board is confident that this acquisition will provide a platform for further growth.”

According to Alliance News, the businesses purchased produced a pro-forma revenue of around £17.8m in 2014, with adjusted earnings of around £3m, excluding central costs.

Press Gazette is part of the Progressive Media Group (but not part of Progressive Digital Media Plc).

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