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Informa acquires Novantas to combine with existing FBX business
StockMarketWire.com
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Financial services company Informa said it together with private equity firm Inflexion had signed an agreement to acquire Novantas.
The company laid out plans to combine its existing FBX business with Novantas to create a 'leading competitive intelligence and specialist data business serving the retail banking markets.'
FBX, part of the financial intelligence portfolio within Informa intelligence and provided solutions for US retail banks with a focus on the mortgage market. While Novantas provided solutions for US deposits market.
Informa would own 57% of the combined business.
Completion was expected by the end of June 2021, subject to customary regulatory approvals.
Story provided by StockMarketWire.com
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