Progressive Digital Media Group acquires GlobalData Holding Limited

progressiveProgressive Digital Media Group Plc is to acquire GlobalData Holding Limited, a company owned by Mike Danson (Executive Chairman of Progressive Digital Media Group) and Wayne Lloyd for approximately £66.5 million.

On completion the company name will be changed to GlobalData plc. Bernard Cragg will be appointed as Chairman, Michael Danson as Chief Executive Officer and Simon Pyper as Chief Financial Officer

The Company has also announced that its subsidiary, PDMH, has also conditionally agreed to dispose of the entire issued share capital of PTML (a company which holds Progressive’s non-core B2B assets) to Research Views Limited, a company also controlled by the Vendors, for a consideration of £1, together with the indirect assumption by the Company of an inter-company loan of £4.5 million owing by PTML to PDMH.

A General Meeting of the Company will therefore be held on 19 January 2016 for Shareholders to approve the acquisition and disposal.

UK, London

Related articles:

%d bloggers like this: