Euromoney to acquire forest products information provider RISI
The acquisition of RISI is reportedly part of Euromoney's strategy update that is highlighting price discovery as a key investment theme.
International business-to-business information company, Euromoney Institutional Investor PLC, has entered into an agreement with Axio Group to acquire RISI, the global information provider for the forest products industry. The sale is expected to complete in the second quarter of 2017, subject to regulatory approval.
Upon completion of the deal Euromoney will pay $125m for 100% of the equity of RISI.
According to Euromoney, RISI had unaudited sales of $29.6m and unaudited EBITDA of $7.7m. The company employs 150 people and runs offices in the US, China, Belgium, Finland and Brazil.
The acquisition is considered part of Euromoney's strategy aiming at building a portfolio of price reporting agencies in growing international markets.
"Euromoney's strategy is actively to manage a portfolio of businesses in asset management, price discovery and other sectors where information, data and convening market participants are valued. Euromoney delivers products and services that support clients' critical activities. This acquisition continues that strategy," the company said.
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