Informa snaps up Tarsus in $940m deal

9th Mar 2023 07:38

(Sharecast News) - Informa has agreed to acquire business-to-business events specialist Tarsus in a $940m deal.

Informa, an academic publisher and events organiser, said on Thursday that the cash and equity deal would further strengthen its portfolio of live and on-demand business-to-business events in Asia, China, the Middle East and in the Americas.

Tarsus - which has a portfolio of more than 160 event brands with a focus on growing, specialist B2B markets - has been owned by private equity firm Charterhouse Capital Partners since 2019.

Partner Robert Leeming said: "We are confident that Informa is exceptionally well placed to deliver the next stage of the company's growth strategy. We look forward to becoming a shareholder."

The update came as Informa reported an 43% jump in full-year revenues from continuing operations to £2.26bn, with adjusted operating profits up nearly 59% at £496.3m.

Once discontinued operations were included, revenues came in at £2.39bn and adjusted operating profits were £535m.

Stephen Carter, chief executive, said: "Informa is firmly back in growth, in revenues, profits, cash flow and, most importantly, shareholder returns.

"Following a strong operating performance in 2022, combined with around £2.5bn of value from divestments, with are seeking to deliver further growth and expansion in 2023."

The blue chip said trading and forward bookings in the first quarter of the current year had been "strong". Annual revenues were forecast to come in between £2.75bn and £2.85bn in 2023, with adjusted operating profits of between £675m and £725m.