4 Dec 2017 07:00
EUROMONEY INSTITUTIONAL INVESTOR PLC
ANNOUNCEMENT OF ACQUISITION
December 4, 2017
Euromoney adds to its telecoms portfolio with the acquisition of TowerXchange
Euromoney Institutional Investor PLC ("Euromoney"), the international business-information and events group, announces today that it has acquired 100% of Seven Site Media Limited, trading as TowerXchange. Under Stock Exchange rules, this is a Class 3 transaction.
TowerXchange is a fast-growing information and events business which has become the leading source of information on the tower market, the infrastructure supporting the growth of the mobile telecoms market. Acquiring TowerXchange is part of Euromoney's telecoms strategy to facilitate industry collaboration and trading in areas ranging from pricing to standards across the telecoms ecosystem.
Rosalind Irving, Euromoney Divisional Director responsible for its telecoms businesses, said: "TowerXchange is an excellent business which serves an increasingly important part of telecoms infrastructure. It is strategic for Euromoney because it is highly complementary to the markets served by TelCap, BroadGroup (in which we invested in March) and Layer123 (acquired in April). We look forward to working with the expert TowerXchange team."
Kieron Osmotherly, CEO of TowerXchange, said: "TowerXchange are excited to be joining the Euromoney family, enabling us to accelerate our events' growth, cultivate new business intelligence services and expand ours and our customers' insights into adjacent segments of telecom infrastructure."
Ends
For further information, please contact:
Euromoney Institutional Investor PLC
Colin Jones, Finance Director: +44 20 7779 8666; cjones@euromoneyplc.com
Christopher Fordham, Managing Director: +44 20 7779 8057; cfordham@euromoneyplc.com
Corporate Development
FTI Consulting
Charles Palmer / Emma Hall: +44 20 3727 1400; euromoney@fticonsulting.com
NOTE TO EDITORS
Euromoney Institutional Investor PLC is listed on the London Stock Exchange and is a member of the FTSE 250 share index. It is an international business-information group covering asset management, price discovery, data & market intelligence, and banking & finance under brands including Euromoney, Institutional Investor, BCA Research, Ned Davis Research and Metal Bulletin. The group also runs an extensive portfolio of events for the telecoms, financial and commodities markets.
www.euromoneyplc.com