GlobalData acquires MEED Media from Ascential for £17.5M

GlobalDataGlobalData PLC has announced the acquisition of MEED Media FZ LLC  from Ascential PLC for a cash consideration of $17.5 million. MEED, formerly known as the Middle East Economist Digest, provides premium business information content with an industry focus on infrastructure and projects in the Middle East. The business services its growing client base principally through annual subscription contracts.

As reported on Fusion DigiNet in January 2016, GlobalData Holding Limited, a company then owned by Mike Danson and Wayne Lloyd, was acquired by Progressive Digital Media Group Plc. Mike Danson is Executive Chairman of Progressive Digital Media Group.

Commenting on the acquisition Bernard Cragg, Executive Chairman of GlobalData, said: “MEED gives the Group the opportunity to further expand into a key region and adds an additional industry vertical to our offering whilst maintaining our disciplined investment criteria of premium proprietary content and strong renewable subscription based revenues.”

UK, London & UAE, Dubai

Related articles

Middle Eastern daily deal site acquired by Tiger Global Management

Cobone, a daily deal company in the Middle East, has been acquired by investment firm Tiger Global Management. Irish entrepreneur Paul Kenny , founder and current CEO of, along other members of Cobone’s management team including Warrick Godfrey , Pieter Sleeboom, Tahira Khan and Loai Ayoub will remain with Cobone. Terms of the deal were not disclosed.

Dubai based Cobone was founded in August 2010 by Kenny with backing from the Jabbar Internet Group. is the largest deal site in the Middle East region, and has grown its registered user base to more than 2 million customers.

“This deal represents a very exciting future for Cobone as it reaffirms its commitment to the Middle Eastern market and e-commerce industry,” said Paul Kenny . “Tiger Global gives us the international clout and the financial resources to expand regionally and surpass already high customer expectations. Loyal Cobone users can look forward to many exciting developments and innovative offerings in the very near future.”

USA, New York & UAE, Dubai

Thomson Reuters acquires Zawya from Saffar

Thomson Reuters, has acquired Zawya Limited, an online service supplying profiles of companies in in the Middle East and North Africa,  along with real-time news and research, and an online network for professionals. The terms of the deal were not disclosed.

Zawya was bought from Saffar, a MENA focused financial services and investment group.

Arma Partners acted as exclusive financial adviser to Saffar, and SNR Denton and Maples & Calder acted as legal advisers to Saffar on the sale of Zawya.

UAE, Dubai