Euromoney subsidiary makes African acquisition
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Tuesday 5 October 2004
Internet Securities, Inc (ISI), the 90%-owned subsidiary of Euromoney Institutional Investor PLC, today announces the acquisition of the assets of theBusiness Intelligence division of Liquid Africa (Pty) Ltd, South Africa.
Business Intelligence delivers proprietary and aggregated news, transaction data, corporate filings, and company data to subscribers in Africa. ISI, which trades as ISI Emerging Markets, will integrate this data into new and existing Africa-oriented products over the coming months, and will open an office in Johannesburg to serve the sub-Saharan Africa market.
ISI will pay up to £1 million in cash for the assets of Business Intelligence, depending on Business Intelligence's financial performance over the next 12 months. The consideration will be funded through existing debt facilities.
The acquisition will enable ISI to cover the sub-Saharan Africa market in depth for the first time, and further extends ISI's global emerging markets coverage.
ISI aims to become the recognized leading professional business information provider for the region. The acquisition continues ISI's strategy of building its regional and global emerging market information services through the acquisition of local online information providers.
For further information, please contact:
Christopher Fordham, Development Director,
Euromoney Institutional Investor PLC:
+44 207 779 8057
Colin Jones, Finance Director,
Euromoney Institutional Investor PLC:
+1 212 224 3930
Gary Mueller, Chairman, Internet Securities, Inc:
+1 212 610 2915