Centaur Regulatory News (CAU)

Acquisition of specialist digital information business

Centaur Media plc (LSE: CAU, "Centaur" or "the Group"), the business information and events group, has acquired Venture Business Research Limited (VBR), a specialist digital information, data and analytics business in the clean energy and global security sectors for a maximum consideration of £7.5m.

The cash consideration comprises an initial payment of £2.5m at completion and a further payment, subject to VBR's performance in the year to 30 June 2015. The acquisition is expected to be earnings enhancing in its first full financial year of ownership.

VBR provides financial news, data, research and analytics to corporates, finance professionals, lawyers and investors active in the clean energy, security and defence markets worldwide.

VBR will become part of the Business Information Division, alongside Perfect Information, the information and workflow solution for investment banks and the corporate advisory community.

The business comprises principally two online subscription services. VBR also provides research and organises events. The business launched its service five years ago as a data provider but has invested heavily in the past two years in its content and technology platform. Its subscriber base is now growing rapidly, giving VBR a leading position in both sectors.

VBR's founders and key executives will remain with the business following the acquisition.

VBR's revenues are currently generated principally through subscriptions to its two core services, and from sponsorship revenues derived from events. In the financial year to 31 March 2011, VBR generated revenues of £0.5m and EBITDA losses of £0.2m. Gross assets at completion are approximately £0.4m.

Geoff Wilmot, CEO of Centaur, said:

"VBR is an excellent fit with our strategic objectives of growing digital subscription revenues in core expanding international markets. The business provides specialist information in two highly attractive and growing global sectors.

"VBR has invested heavily in its products over the last three years to establish itself as a leading provider to its high value markets and this has held back its profitability. We will now accelerate VBR's growth by offering an exceptional route to market and the opportunity to enhance the value of its content through our leading brands Perfect Information, The Lawyer and The Engineer."

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