Informa, an events, business-intelligence and publishing company based in London, has offered £1.2 billion (US$1.55 billion) in cash to acquire Ascential, a U.K. events company that owns the Money20/20 and Cannes Lions conferences. Several media outlets have reported that the offer has been accepted, but the companies have not confirmed this publicly.
The news comes as Informa announced its results for the first half of 2024, including underlying operating profit growth of 19 percent, revenue growth of 11 percent and dividend growth of 10 percent.
"For the Informa company, 2024 really has started the way 2023 ended, with growth, with international expansion, with portfolio development and increasing fundamental confidence in the underlying distinctiveness of our products, services and brands," said Informa CEO Stephen Carter in a video posted today to the company's LinkedIn.
The addition of the Cannes and Money20/20 conferences would expand Informa's footprint and growth. The Cannes Lions International Festival of Creativity is a five-day festival that includes prestigious awards for the advertising industry. The 2024 event was held in Cannes, France, June 17-21.
Money20/20 organizes global events for the financial-services industry. Its U.S. edition will take place Oct. 27-30 in Las Vegas. Money20/20 Asia was held April 23-25 in Bangkok, while the Europe event was June 3-5 in Amsterdam.
