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Informa PLC on Thursday said it bought events group Winsight LLC to strengthen its position in the specialist B2B Foodservice market, reassuring investors that the move is ‘full funded’ and promises ‘strong financial returns’. Informa, a London-based publishing and events firm, said the acquisition of Winsight was for $380 million. Winsight is a specialist business-to-business events, data and media group with revenue generated primarily in North America. Informa said the acquisition will deliver earnings accretion from the outset and ‘create a category leader offering a range of specialist B2B services’. It said this will generate annual revenues of over $1115 million in the US. Winsight is expected to gain full year revenues of around $100 million and earnings before interest, tax, depreciation and amortisation of over $35 million. Informa previously announced its acquisition of B2B events group Tarsus Group for $940 million on March 9. On Thursday it confirmed the deal’s completion. ‘Following on from the acquisition of Tarsus, we are delighted to further expand our B2B portfolio through the addition of Winsight. Alongside Technology, Life Sciences and Aviation, this now adds Foodservice to our roster of category leading B2B businesses,’ said Informa’s Chief Executive Stephen Carter. He added: ‘This acquisition is fully funded by in-year cash flow growth and our balance sheet, and will further enhance revenues, margins, earnings and cash flow.’ Shares in Informa were 2.1% higher at 721.60 pence in London on Thursday. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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