FT acquires controlling stake in Longitude
The Financial Times has acquired a controlling stake in Longitude, a seven-year-old company that provides services to a multinational companies.
Terms were not disclosed.
Longitude’s product offering include services such as surveys, interview programs, data modelling and desk research, and thought leadership campaigns, which include reports, articles, opinion pieces, visual and interactive content.
“Longitude’s professional culture and reputation for quality sets it apart and makes it an ideal partner for the Financial Times,” said FT CEO John Ridding in a statement. “There is a natural synergy between our two businesses and aligning Longitude’s expertise and innovative approach with the Financial Times’ global audience and distribution will be of great benefit for our commercial clients.”
The acquisition extends the FT’s traditional commercial offering into a wider set of integrated services. The FT’s core business areas, include subscription sales (paid readers now exceed 910,000), branded content via the acquisition of Alpha Grid, and conferences and events through Financial Times Live.
The Longitude team will remain in their London office for 2018 and will look to move into the Financial Times’ new headquarters, Bracken House, in early 2019.