Information  X 
Enter a valid email address

Euromoney Ins.InvPLC (ERM)

  Print      Mail a friend       Annual reports

Friday 11 March, 2005

Euromoney Ins.InvPLC

Acquisition

Euromoney Institutional InvestorPLC
11 March 2005





                      EUROMONEY INSTITUTIONAL INVESTOR PLC


                                RNS Announcement



                                              Not for release before 07.00 hours
                                                    London time on 11 March 2005



             Euromoney Institutional Investor PLC to acquire leading

            Asian provider of macro-economic data, CEIC Data ('CEIC')


Euromoney Institutional Investor PLC ('Euromoney') announced today that it will
acquire, through its 91%-owned subsidiary, Internet Securities Inc. ('ISI'),
CEIC Holdings Limited and its related companies ('CEIC'). From its headquarters
in Hong Kong, CEIC is one of the leading providers of time-series macro-economic
data covering Asia.

Euromoney has initially acquired a 49% interest in CEIC for a cash consideration
of US$7 million. In addition, it has entered a binding contract to acquire a
further 25% interest in CEIC in June 2006 and the final 26% a year later. These
further payments are dependent on the audited profits of CEIC for the years to
31 March 2006 and 2007 respectively. The maximum consideration payable for 100%
of CEIC is capped at US$35 million. The acquisition will be financed from
Euromoney's existing borrowing facility. It is expected to be earnings-enhancing
for Euromoney for its financial year ending 30 September 2005.

The acquisition opens ISI's international customer network to CEIC, presenting
new markets around the world for CEIC's database products. It accelerates ISI's
growth in Asia by enabling ISI to introduce its global emerging market services
to CEIC's Asian customer base, and by expanding ISI's physical presence in
South-east Asia. It also continues ISI's strategy of building its regional and
global emerging markets information services through the acquisition of local
online information providers.

CEIC was founded 12 years ago by Albert Fan, its managing director and owner. It
specialises in providing high-quality, comprehensive databases focusing on Asian
macro-economic, industrial and financial time-series data. It aggregates data
from 500 primary sources, including national statistical offices, central banks
and financial exchanges. In addition to its headquarters in Hong Kong, CEIC has
offices in Shanghai, Beijing, Kuala Lumpur, Singapore, Jakarta, Manila and
Bangkok. It employs 90 staff.

'We are delighted to acquire CEIC and to receive the continuing support of
Albert Fan,' said Gary Mueller, founder and Chairman of ISI and a director of
Euromoney.  'CEIC is regarded as the leading provider of time-series economic
data in Asia, and we are very pleased to be able to work closely with the CEIC
team to further their expansion in Asia and the rest of the world.  Also, the
fit between ISI and CEIC is excellent: we complement each other well in terms of
geographic focus, with very little overlap in the information and data we
collect and provide.  The combination of ISI and CEIC will enhance the ability
of both companies to deliver superior services.'

Commenting on the acquisition, Albert Fan, Managing Director of CEIC, said: 'We
are excited about working with ISI and Euromoney to enhance our position as the
leading provider of research data in Asia. The international reach of the
Euromoney and ISI brand names and the global network of ISI offices and
customers will facilitate the distribution of CEIC services outside Asia. We
look forward to working with the ISI team to develop and deliver outstanding
data services.'

                                      Ends

Note to editors:

About Euromoney Institutional Investor PLC

Euromoney Institutional Investor PLC is listed on the London Stock Exchange and
is a member of FTSE 250 share index. It is a leading international
business-to-business media group focused primarily on the international finance
sector. It publishes more than 100 magazines, newsletters and journals,
including Euromoney and Institutional Investor. It also runs an extensive
portfolio of conferences, seminars and training courses, and is a leading
provider of electronic information and data on international finance and
emerging markets. It acquired a controlling interest in ISI in January 1999.

About ISI Emerging Markets

Based in New York, ISI Emerging Markets (trading as Internet Securities Inc.)
has a network of 26 offices around the globe. It delivers hard-to-get
information on over 70 emerging markets through its flagship Emerging Markets
Information Service (EMIS). Available through 15 language interfaces, it
aggregates and produces unique content including full-text news articles,
financial statements, company information, industry analyses, equity quotes,
macroeconomic statistics and market-specific information. EMIS offers powerful
search capabilities with in-depth, timely and comprehensive coverage, which are
derived directly from more than 9,000 local and global publications.

ISI Emerging Markets has recently been nominated for a Codie Award from the
Software & Information Industry Association (SIIA) in the 'Best Content
Aggregation Service' category. ISI has also been awarded 'Best of the Web'
ratings for the past four years by Forbes magazine, and was named 'Forbes
Favorite' in 2004. ISI and its services have continuously earned outstanding
recognition and product reviews, including 'perfect scores' in all categories
and a 'must have' ranking from Information World Review.

For further information, please contact:
1)      Richard Ensor, Managing Director of Euromoney Institutional Investor
PLC:
London +44 207 779 8845. Email: rensor@euromoneyplc.com

2)      Colin Jones, Finance Director of Euromoney Institutional Investor PLC:
New York +1 212 224 3930. Email: cjones@institutionalinvestor.com

3)      Gary Mueller, Chairman of ISI, and Director of Euromoney Institutional
Investor PLC: New York +1 212 610-2915. Email: gmueller@securities.com

4)      Christopher Fordham, Development Director, Euromoney Institutional
Investor PLC:
London +44 207 779 8057. Email: cfordham@euromoneyplc.com




                      This information is provided by RNS
            The company news service from the London Stock Exchange