Wall Street Journal parent News Corp. and Business Insider parent Axel Springer are among those expected to enter a bidding war to acquire Acuris, the owner of Mergermarket and Dealreporter, as an auction gets officially under way this week, reports Javier Espinoza and James Fontanella-Khan of The Financial Times.
Espinoza and Fontanella-Khan report, “Acuris is considered an attractive asset because its subscription-based model, which can draw a steady stream of fees from its 190,000 subscribers, leaves it with a sticky customer base. The business has a renewal rate of 95 per cent, according to a person with direct knowledge of its finances.
“BC Partners bought the business from Pearson — the former owner of the Financial Times — for £382m. It has since more than doubled in value after Singapore’s GIC bought a 30 per cent stake valuing the business at about £1bn.
“Since being acquired by BC Partners, Acuris has seen double-digit growth and has annual earnings before interest, tax, depreciation and amortisation of £75m, a person with direct knowledge of its performance said.
“The private equity group has also cut or sold lossmaking units and introduced new products to expand the business since it bought Acuris in 2013.”
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