A Fusion Deal: Marine Money sold to Diversified

January 14, 2026 — Fusion DigiNet

Marine Money, the leading brand for ship finance events and publications, has been sold by International Marketing Strategies, Inc. (IMS) to Diversified, a global B2B events and media company headquartered in Portland, Maine. The Fusion team was led by Paul Kelly, Director at Fusion. The terms of the deals were not disclosed.

Founded by Jim Lawrence in 1987, Marine Money informs and supports networking and business development opportunities for C-Suite attendees in the global shipping finance industry. An organizer of events across the globe, and producer of newsletters, research, and industry reports, Marine Money complements Diversified’s existing Commercial Marine portfolio of events and publications serving the marine industry, including the International Workboat Show, Pacific Marine Expo, National Fisherman, and Workboat Magazine.

Speaking about the sale, Fusion’s Paul Kelly said, “I first met Jim Lawrence and Matt McCleery many years ago and worked with them in 2018 on IMS’s sale of the CMA Shipping Conference and Exposition to Knect365, Informa PLC’s Knowledge & Networking Division. I was delighted to be invited back to work with them on this new project. Beyond their scale and infrastructure, Diversified’s family-owned culture and client-first approach make them a natural fit for Marine Money. The entire Marine Money team is remaining with the business and is highly energised by the opportunities ahead. They are a great team of people, and I wish them every success in the future.”

“This is a transformational opportunity for us, and we couldn’t be more excited about it,” stated Matt McCleery. “Diversified’s family-owned culture and client-focused approach are a perfect fit for Marine Money, and with the support of Diversified’s expertise and resources, we plan to take Marine Money to the next level in terms of client service and digital technology, as well as training, content, data and networking.”

Group Vice President Wes Doane, who leads Diversified’s Commercial Marine team, commented, “This acquisition represents a highly strategic step forward in expanding and deepening our Commercial Marine portfolio,” said Doane. “Just as important, we are gaining exceptional partners in both Matt and Mike, whose decades of industry leadership, trusted relationships, and commitment to the shipping finance community will be instrumental as we invest in growth, innovation, and long-term value for our customers.”

The next Marine Money event will be the 2026 London Ship Finance Forum, which will take place on January 22, 2026, at the JW Marriott Grosvenor House on Park Lane, London.

Stamford, CT  and Portland, ME

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A Fusion Deal: Sixth Continent Holdings, owner of The Moodie Davitt Report, sold to The Mark Allen Group

September 19, 2024 — Fusion DigiNet

Sixth Continent Holdings, owner of The Moodie Davitt Report, has been sold to The Mark Allen Group. The Fusion team was led by Paul Kelly, Director at Fusion. The terms of the deals were not disclosed.

Founded by Martin Moodie in 2002, The Moodie Davitt Report covers all aspects of the global industry eco-system from travel retail to dining, advertising to foreign exchange, plus other airport commercial revenue streams.

Co-owners Martin Moodie (Founder and Chairman) and Dermot Davitt (President) enjoy outstanding reputations in this highly attractive and growing sub-sector of the travel and aviation market.

They will continue to manage the business alongside their experienced senior management and high-quality teams across editorial, sales, events and administration, supported by Mark Allen Group’s scale and expertise in publishing and events.

Alongside its suite of publications, including travel retail’s ‘home page’ MoodieDavittReport.com, regular newsletters, eZines, magazines and much more, the company owns and runs three major annual global events: The Trinity Forum; The Airport Food & Beverage (FAB) + Hospitality Conference & Awards; and The Moodies Social & Digital Media Awards.

The Moodie Davitt Report is also an esteemed partner and manager of numerous other industry events around the world.

The business has been acquired by MA Exhibitions, one of the seven operating companies in Mark Allen Group.

Sixth Continent Holdings and The Moodie Davitt Report will be incorporated in the Mark Allen Group under a new division, MA Travel Retail.

Mark Allen Group has a strong presence in airports and aviation, including Ground Handling International and Aircraft Interiors International and will be seeking synergies across the titles.

Speaking about the sale, Fusion’s Paul Kelly said, “I have known Martin and Dermot for over 25 years, and it was both an honour and a pleasure to work with them on the sale of their business. They have found an excellent home with Mark Allen Group, and I am very pleased for them.”

The Moodie Davitt Report’s Founder and Chairman Martin Moodie said: “I have poured my heart and soul into this business over the past 22 years and I am thrilled that this agreement with another family company will both protect and grow that legacy. Together we will take the business to exciting new heights.”

The Moodie Davitt Report’s President Dermot Davitt added: “We are delighted to begin this latest chapter in our journey with such a respected publishing and events house as Mark Allen Group. With their support we aim to stretch our market leadership through our unrivalled industry relationships, our innovation drive and a relentless focus on delivering the highest-quality business intelligence and events to our loyal audience.”

Mark Allen Group’s Executive Chairman Mark Allen said: “It is exceptionally rare to find such a brilliant business as this. Over recent years, the company has enjoyed exceptional growth. Extraordinarily, it even made a very good profit in 2020, the height of the pandemic, when other similar publishing and events businesses were floundering.”

Mark Allen Group’s CEO Ben Allen said: “Not only is this a fantastic opportunity for us, but we have in Martin and Dermot two superstars who care passionately about the business and who will stay with us to develop it even further.”

UK, London and Hong Kong

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Kester Capital acquired majority stake in data centre market intelligence and analytics provider DC Byte

December 21, 2022 — Fusion DigiNet

Kester Capital, the UK lower mid-market private equity specialist, has acquired DC Byte, a leading global market intelligence and analytics provider for data centre operators, developers, investors, advisers and suppliers.

The investment represents Kester’s third investment in the Information & Data sector, and the fifth investment out of its latest fund, Kester Capital II, which closed at its hard cap in 2020. The DC Byte investment follows two recent exits: Vixio, a high growth provider of data and information services generating a 4.8x return for Kester; and, Avania, the leading global medical technology CRO for 8.4x.

DC Byte, founded by CEO Ed Galvin, is a fast-growing business that has built a highly differentiated subscription-based offering through its data centre focused market intelligence and analytics platform. This proprietary data and insight rich service provides users with a comprehensive global database, updated and validated in real time, alleviating critical customer pain points caused by the lack of reliable and transparent information. DC Byte is headquartered in London, with operations in Europe, Asia, and North America.

Cameron Crockett, Managing Partner at Kester Capital, said, “Ed and team have built an exceptional data business in the very attractive and rapidly scaling data centre market. Subscription Information & Data is a core sector for Kester and we look forward to helping the DC Byte team maximise the opportunity ahead of them.”

With demand for cloud storage driving the need for increased capacity and regulation driving geographical expansion, DC Byte is well positioned to continue to benefit from these significant market tailwinds. Kester will work alongside management to develop new markets and products aimed at capitalising on the strong organic growth being driven by underlying demand for, and investment in, digital infrastructure.

UK, London

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Informa to divest Pharma Intelligence for £1.9bn

February 11, 2022 — Fusion DigiNet

Informa, the international B2B markets, knowledge services and business intelligence group has agreed to divest Pharma Intelligence, the largest business within its Informa Intelligence division, to Warburg Pincus for £1.9bn, while separately commencing a share buyback.

Pharma Intelligence is a provider of specialist intelligence and data for Clinical Trials, Drug Development and Regulatory Compliance. In 2020, this business accounted for approximately 40% of Informa Intelligence reported divisional revenues of £305m and c.50% of reported divisional adjusted operating profit of £103m.

The last reported Profit Before Tax of Pharma Intelligence was £55.3m for the year ended 31 December 2020 and the last statement of Gross Assets was £479.9m, as at 30 June 2021.

The agreement with Warburg Pincus, values Pharma Intelligence at £1.9bn, equating to an EV/EBITDA multiple based on 2020 reported figures or 2021 expected outcomes.

Under the agreement, 85% of equity value will be realised immediately, equating to c.£1.7bn in cash, pre-tax, with Informa retaining a c.15% shareholding in the business going forward. This c.15% equity interest ranks pari passu with Warburg Pincus’ equity and includes customary rights in the event of a sale of the business.

The sale is expected to complete by early June subject to relevant regulatory clearances.

Adarsh Sarma, Co-Head of Europe, Warburg Pincus LLC said:

“We are delighted to be the partner of choice for Informa and to have the opportunity to acquire Pharma Intelligence with its operating management team. Pharma Intelligence plays a critical role in supporting and maintaining the ecosystem that surrounds clinical trials, drug development and regulatory compliance, and we intend to invest and significantly grow the business and its product offerings. We are also pleased to be working again with Jay Nadler, who we worked with at MLM Information Services and Interactive Data Corp and he was previously CEO of Clarivate. He will also be joining the Board of the newly separated company.”

Stephen A. Carter, Group Chief Executive, Informa PLC, commented:

“We received significant interest in the Pharma Intelligence business. We are delighted to partner with Warburg Pincus and share their view on its future growth potential, hence, we welcomed an agreement that represented value today and growth and value tomorrow.”

Share Buyback Programme

The group has previously announced its intention to return a proportion of the proceeds from the divestment of Informa Intelligence to shareholders. Following the sale agreement for the Pharma Intelligence business, Informa has entered into an arrangement with its broker, Merrill Lynch International (BofA Securities), to purchase on its behalf and within certain pre-set parameters, ordinary shares of 0.1 pence each in the Company, with the intention to cancel those shares purchased.

The programme will commence with immediate effect and run through to the AGM in June, including through the Company’s close period (30 days from 13 February to 14 March 2022). The maximum amount allocated to the initial tranche of the buyback programme will be £100m. The share buyback programme will take place in accordance with the Company’s current approved buyback authorities and be effected in accordance with Chapter 12 of the FCA’s Listing Rules. The maximum number of ordinary shares that may be repurchased under those authorities is 150,311,000.

Trading Update

Informa will report its 2021 Full Year Results on 15 March 2022. Ahead of this, Group has reported that it expects to report trading in 2021 in line with guidance of £1.8bn± Group Revenue and £375m± of Adjusted Operating Profit. Free cash flow is expected to be ahead of previous guidance of £325m+.

UK, London

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Pendo acquires product management community Mind the Product

February 1, 2022 — Fusion DigiNet

Software business Pendo has acquired Mind the Product, a product management community which provides content, training and conferences that serve a global audience of more than 300,000 product managers, designers and developers. 

“This is a tremendous day for our community of product managers around the world,” said James Mayes, CEO and co-founder of Mind the Product. “By joining Pendo, we can execute on today’s mission and think even bigger about how we will support, educate and train product teams in the future.”

Mind the Product began as a passion project for its founders in 2010. As technology startups emerged around London, with product managers playing a leading role in those companies, the team hosted its first meetup, dubbed ProductTank, in the back of a local pub. Word spread as technology ecosystems emerged in other cities too, and the group responded by partnering with local organizers to host ProductTanks around the globe. Now with a full-time team of nearly 20, all of whom will join Pendo, the London-based company provides a series of global conferences, custom product training and workshops, a popular blog and newsletter, and a subscription offering with more than 3,000 members. It also supports ProductTank meetups in more than 200 global cities and oversees the largest Slack community for product people. 

Pendo intends to keep the Mind the Product team in place to manage its conferences, content, events, and meetups, and to continue its vendor-neutral workshops and training. The acquisition supports Pendo’s goal to provide the most complete platform for product-led companies — Pendo’s software products paired with content, training and community enable companies to become product led. 

“Pendo has always made it part of our mission to elevate the craft of product management and to help product managers be better at what they do,” said Todd Olson, CEO and co-founder of Pendo. “We’re really excited to join forces with some of our earliest influencers, and offer substantially more education and resources to the global product management community for years to come.” 

Mind the Product is Pendo’s third international acquisition in five years. In 2017, Pendo acquired Insert, a mobile app engagement solution based in Israel, and in 2019, it acquired Receptive Software Limited, a UK-based product demand intelligence platform. Pendo has scaled its international operations to more than 160 people, adding nearly 100 employees in the United Kingdom, Israel, Japan and Australia in 2021. Those teams support more than 300 customers in EMEA regions and 60 customers across Asia. Mind the Product adds to the company’s global footprint both through headcount and reach. 

USA, Raleigh, NC and UK, London

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With Intelligence (Pageant Media) – multiple acquisitions since February 2020

January 14, 2022 — Fusion DigiNet

In February 2020, Intermediate Capital Group took majority control of the UK’s Pageant Media for a reported £106.5 million in a deal which is believed to have valued the company at £145m. It was the first investment by ICG’s Europe Mid-Market Fund, which closed in late 2019 at €1 billion

Pageant Media, now rebranded as With Intelligence, was privately owned by its CEO Charlie Kerr, who founded the business in 1998. The company’s business model at the time of IMG’s investment included a membership programme in which financial professionals pay an annual fee to receive news, information, and data, and attend invitation-only events. The company organised around 200 events per year and had reported £32 million in revenues in 2019. It had more than 2,500 institutional clients worldwide and had 240 people across its offices in London, New York, Hong Kong, and Cardiff.

Since then, Pageant Media has gone on to make a number of acquisitions, including:

  1. May 2020 – Eurekahedge from the Mizuho Bank, of Japan. Based in Hong Kong, Eurekahedge had annual revenues of $5 million and an operating profit of around $1 million. The company, which was founded in 2001, offers a database of information on hedge funds and offers the Eurekahedge fund indices.
  2. November 2020 – Falk Marques Group (now rebranded With Intelligence) acquired from Beth Falk and Raul Marqués who jointly founded the business in 2006. Falk Marques Group produces conferences and networking forums that are focused on advancing women in the private equity, venture capital and alternative investment communities. It launched the Women’s Private Equity Summit in 2008 and its sister event, the Women’s Alternative Investment Summit in 2009. Falk Marques Group had around $4 million revenue. Pageant Media are reported to have made an initial payment of $4 million. This to be followed by an earn-out which may eventually value the business at $20 million.
  3. June 2021 – the acquisition of Pension Funds Online. The business organises up-to-date financial and contact information for pension funds, in the UK and Europe, through a modern, searchable digital interface. First produced in print form in 1978, as the so-called Blue and Red Books, the online database is today used by asset managers, investment consultants and other service providers to drive their investor outreach strategies.
  4. June 2021 – Hedge Fund Alert acquired from Green Street. Hedge Fund Alert is read by hedge funds, prime brokers, and other service providers to get the earliest look at key dealings and intelligence in the hedge fund arena. The U.S.-based publication now sits alongside HFM and Eurekahedge.
  5. August 2021 – UK-based Savvy Investor from its owner Andrew Perrins for a reported £6 million initial payment and a further £2 million based on performance targets. Savvy Media is a knowledge network for institutional investors, providing members with access to a deep resource of white papers and articles covering global investment and pensions issues. It had £2 million in revenue and £800k EBITDA.

With Intelligence is now a global business information organisation, focused on the asset management industry. Now with over 450 people in seven offices across three continents, the product portfolio includes data, insight and events, and has grown to cover hedge funds, private equity, real estate, private debt, and traditional asset management, with more than 3,000 institutional customers worldwide.

UK, London

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LabX Media Group acquires G2 Intelligence from Plain Language Media

November 26, 2021 — Fusion DigiNet

B2B science media company LabX Media Group has acquired the information services and event assets of G2 Intelligence from Plain Language Media LLLP. The terms of the deal were not disclosed.

Plain Language Media has retained The Licensing Letter, The Licensing Sourcebook and Licensing Deals & Data, plus its Medical Office Manager and Law Office Manager franchises.

In a statement this week, LabX Media Group CEO Bob Kafato said: “We are excited to formally announce a new addition to the LMG family, G2 Intelligence. G2 Intelligence is a digital content news platform that provides timely, accurate analysis of legal and regulatory news that directly affects the laboratory environment. The brand has a successful 30-year history of providing the diagnostic lab industry with print and digital newsletters, online information services, special reports, and live events. Above all else, G2 Intelligence aligns with our mission of helping scientists make the world better and is a fantastic fit for LabX Media Group, so we are thrilled to have them join our talented team.”

Canada, Ontario and Canada, British Columbia & USA, New London, CT & UK, London

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GlobalData to acquire the Life Sciences business of IHS Markit

September 9, 2021 — Fusion DigiNet

Data analytics and consulting company GlobalData Plc is to acquire the Life Sciences business of IHS Markit Ltd. (“LS”).

LS offers comprehensive and independent coverage of drug pricing, reimbursement and market access trends, as well as healthcare forecasts and healthcare economic data microsimulation modelling.

The terms of the deal were not disclosed, completion is expected to occur during Q4 of 2021 and will be funded from the Group’s existing cash resources and banking facilities.

Commenting on the acquisition Mike Danson, Chief Executive Officer, said: “The Life Sciences acquisition represents a strategic bolt-on to our already strong pharmaceuticals data, insights and analytics services. The addition of drug pricing data, as well as other critical Life Sciences data and analysis, further confirms our industry leading breadth and depth in the pharmaceuticals space.

I would like to take this opportunity to welcome our new group of highly talented colleagues to the Group and wish them every success for the future within GlobalData”

Gustav Ando, Vice President and Head of Life Sciences at IHS Markit, added: “We are looking forward to becoming an integral part of the GlobalData Pharma and Life Sciences Team. This unique combination will enable us to provide our current and expanded client base with a much broader service offering, through synergy with existing GlobalData services, and on a single fully integrated platform.”

UK, London

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Future plc acquires Dennis from Exponent Private Equity for £300 million

August 19, 2021 — Fusion DigiNet

Future plc has acquired media subscriptions business Dennis from Exponent Private Equity LLP, for approximately £300 million.

The titles being acquired by Future are: The Week UK / The Week US, The Week Junior UK / The Week Junior US, MoneyWeek, Kiplinger, Science & Nature, IT Pro, Computer Active, PC Pro, Minecraft World, and Coach.

The four titles not being acquired by Future – Viz, Fortean Times, Cyclist and Expert Reviews – will be retained by the Vendors.

Dennis demonstrated strong growth in its financial year to 31 December 2020, reporting revenue of £104.8m, up 12% on 2019, and adjusted EBITDA of £20.0m, up 14% on 2019. This growth has continued into 2021 with revenue growth of 16% in the twelve months ended June 2021. Gross assets as at 30 June 2021 were £210m.

Expected cost synergies are £5m per annum, to be achieved by FY2023. They represent 25% of Dennis’ FY2020 EBITDA.

The purchase price of approximately £300m is to be satisfied in cash on completion (expected on 1 October 2021), subject to normal closing adjustments. Under the terms of the acquisition, the Vendors have agreed to pay Future a minimum of £8m and a maximum of £10m within 12 months of completion.

The acquisition is being funded via the Group’s debt facility, which was increased to £600m in July 2021 via an amend and extend exercise.

Zillah Byng-Thorne, CEO of Future, said: “I am delighted to announce the acquisition of a high-quality portfolio of Dennis’ trusted brands that will accelerate our strategy, enhance our content capabilities and bring additional geographical and vertical revenue diversification, whilst materially increasing the proportion of recurring revenues across the Group.

“The materially earnings enhancing acquisition is highly complementary to our longstanding ‘US first’ mindset and provides an attractive opportunity to scale our recently created ‘Wealth’ vertical, whilst diversifying our presence in our ‘Knowledge’ and ‘B2B Pro Technology’ verticals.

“I look forward to welcoming our new colleagues to Future, and to continuing the successful execution of our strategy to generate long-term sustainable growth and attractive returns for our shareholders.”

James Tye, CEO of Dennis, said: “In the three years that the business has been owned by Exponent, Dennis has been on an incredible growth journey, delivering double digit increases in subscription revenues, a greatly increased US footprint; and significant bottom-line increases. This is a testament to the talented team at Dennis who have helped make all of this happen.

“We look forward to working with the team at Future to continue growing the reach, influence and value of all our key brands and businesses.”

UK, London

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News Corp to acquire OPIS

August 3, 2021 — Fusion DigiNet

News Corp is to acquire the Oil Price Information Service (OPIS) and related assets from S&P Global and IHS Markit.

News Corp is acquiring OPIS for $1.15 billion in a cash transaction, subject to customary adjustments, and also expects to receive an estimated tax benefit of $180 million as part of the transaction. S&P Global and IHS Markit announced in May their exploration of the divestiture of the businesses to ensure a timely merger of both companies. News Corp’s acquisition of OPIS is subject to customary closing conditions, including regulatory approvals and the consummation of the S&P Global and IHS Markit merger, which is expected in the fourth quarter of this calendar year. OPIS will become part of Dow Jones’ Professional Information Business (PIB), which includes Dow Jones Risk & Compliance, Dow Jones Newswires and Factiva. OPIS has a revenue base that is nearly 100% digital, 95% recurring and operates at approximately 50+% Adjusted EBITDA margins.

Founded in 1977, OPIS today is a global industry standard for benchmark and reference pricing and news and analytics for the oil, natural gas liquids and biofuels industries, and a growing provider of insights and analytics in renewables and carbon pricing. At its core, OPIS provides end-to-end pricing and analytics information to the energy industry from the refinery to the retailer.

“OPIS will be the cornerstone for a rising commodities, energy and renewables digital business that we are convinced will have a positive impact on Dow Jones and News Corp,” said Robert Thomson, Chief Executive of News Corp. “We certainly believe OPIS and Dow Jones will be more than the sum of their valuable parts. Dow Jones is ideally positioned to accelerate growth at OPIS, while OPIS will be a powerful pillar, alongside Risk & Compliance, in the fast-growing Dow Jones Professional Information Business.”

OPIS and related assets revenues have grown at an approximate 10% CAGR, including acquisitions, since 2016, as disclosed by IHS Markit, and grew at a consistent rate through the 2008-2009 global financial crisis, the 2014-2015 oil market downturn and the current pandemic. In its current fiscal year (ending November 30, 2021), OPIS is expected to generate approximately $129 million in revenues, Adjusted EBITDA margins exceeding 50%.In its fiscal year ended November 30, 2020, OPIS generated revenue and Adjusted EBITDA of approximately $121 million and $61 million, respectively.

OPIS, headquartered in Rockville, Maryland, also has offices in Mexico, the United Kingdom, France, Romania and Singapore. The company employs approximately 400 professionals globally.

News Corp will report its full year 2021 results on August 5, 2021.

USA, New York, NY & USA, Rockville, MD

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