Euromoney Institutional acquires The Deal, BoardEx for $87.3m
Source - SMW
Euromoney Institutional said Thursday it had agreed to acquire BoardEx and The Deal, from parent company TheStreet, for $87.3m.
BoardEx, an executive profiling and relationship mapping platform, provided users with accurate, up to date and in-depth profiles of over one million of the world's business leaders, the company said.
The Deal was a trusted source of data, news and intelligence on mergers and acquisitions, activist investing, private equity and restructuring, it added.
The combined products had a consistent track record of growth in revenue and earnings (EBITDA) over recent years and this trend was expected to continue, Euromoney said. In the twelve months to 30 September 2018, The Deal, LLC's unaudited revenue was $25.2m.
The Deal, comprising the assets of BoardEx and The Deal, would require the approval of TheStreet Inc's shareholders and other customary closing conditions and was expected to take place during the first quarter of 2019, Euromoney added.
'I am excited by the acquisition of BoardEx and The Deal, which brings two additional high-quality assets into Euromoney's portfolio and supports our transition towards a next generation 3.0 business model,' said Andrew Rashbass, CEO of Euromoney said.
'The businesses are perfectly placed to grow further under Euromoney ownership, with the Group's existing data expected to enhance the BoardEx platform. We look forward to working with the management team and our new colleagues around the world to develop these leading brands and take advantage of the compelling growth opportunities they offer.'