Events organiser Informa has finally found a buyer to take its maritime intelligence side of the business off its hands.
European private equity firm Montagu is paying £385m ($466m) to buy Maritime Intelligence, better known as Lloyd’s List Intelligence, a data business, which also includes shipping news portal, Lloyd’s List.
Montagu’s director Edward Shuckburgh commented: ”Maritime Intelligence is a unique business with a historic legacy and reputation hard-won over hundreds of years. It is complementary to our portfolio of data and analytics investee companies with strong current growth and revenue acceleration potential. We are pleased to welcome the business to the Montagu family.”
Informa has been selling its data and publishing titles to focus more on events. Lloyd’s List Intelligence, a brand which can trace its roots to the 18th century, was first flagged for sale in December last year.