London-based Pearson Plc has acquired Mergermarket, a company that specialized in providing data on mergers and acquisitions, in an attempt to improve the data being offered to subscribers of its Financial Times newspaper, according to a Reuters story.
“The closely held company was founded in 2000 and does not disclose financial information. London-based Pearson, which generates most of its profit from publishing educational materials, said it expects the deal to add to its earnings per share in 2007, the first full year after the purchase.
“‘We see opportunities to connect mergermarket and the FT Group, from the Financial Times and FT.com to our specialist financial magazines and Interactive Data Corp. ,’ FT Group Chief Executive Rona Fairhead said.
Read more here. BusinessWeek parent McGraw-Hill was apparently also interested in acquiring Mergermarket.
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This is a great deal. I looked at mergermarket latest set of accounts and it makes £10million revenue with less than £1m ebit. If this is correct then its an extraordinary valuation. Presumably, the customer base and high retention rates are what pushed up the value. This is a perfect example of using intelligence intelligently.