Datamonitor founder sells to Informa
Mike Danson who founded the information and analysis company is set to net over £80m
Mike Danson, the man who founded information and analysis company Datamonitor, will net himself as more than £80m from its impending sale.
Danson, the company’s chief executive, has gained the backing of his board to make a £502m sale to its rival Informa.
Danson founded the business in 1990 from his flat in West Hampstead, London, and has turned it into a £70m turnover company. He currently owns 13% stake of the business worth about £65m and has share incentive options worth about £20m.
He will now take a £5m stake in Informa which has agreed to purchase his listed-business for 650p per share.
Datamonitor provides market intelligence and analysis on sectors such as the automotive, consumer, energy and financial services markets. Informa, the larger of the two companies, publishes over 2,000 different titles and organises around 10,000 conferences a year.
Bernard Cragg, chairman of Datamonitor, described the deal as an ‘excellent combination’.
“Like us, Informa has enjoyed the benefits of a clear strategy executed well, with sustained investment in the product range,” he said.
“It is the right home for Datamonitor. Together the two businesses will be stronger and have greater potential.”
Peter Rigby, chief Executive of Informa, added: “The team at Datamonitor has built a terrific business information company that nicely complements our publishing, events and performance improvement businesses.
“As part of Informa, we believe Datamonitor can accelerate growth and provide data to a wider range of clients.
“Additionally, Datamonitor’s subscription-based business is strongly cash generative, economically resilient and characterised by robust renewal rates.”
Greenhill is acting as lead financial adviser to Informa, whereas Merrill Lynch and Hoare Govett are joint brokers.
Datamonitor has employed LongAcre Partners as its financial adviser and Numis is its corporate broker.
© Crimson Business Ltd. 2007