Publishing, events and electronic information company Euromoney Institutional Investor plc (ERM.L) Monday announced the acquisition of TTI/Vanguard, with the aim of expanding its membership events portfolio. The company has paid $8 million to acquire 87 percent of the equity of TTI/Vanguard. The acquisition is expected to be earnings accretive in the first year. Further, the remaining stake is expected to be acquired in two stages of an earn-out by December 2014.
TTI/Vanguard is a private membership organization that explores emerging and potentially disruptive technologies and their global impact through a series of advanced technology conferences.
"The acquisition of TTI/Vanguard is consistent with our strategy of applying our expertise to global sectors," said Richard Ensor, Chairman of Euromoney. "This takes us into the high-technology content sector. Euromoney has a successful record of acquiring events businesses and accelerating their growth globally, as demonstrated over the past 15 years by the success of Institutional Investor which now has 13 subscription memberships around the world. We look forward to doing the same with TTI/Vanguard."
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