Informa, a UK-based B2B publisher and events firm, has sold Maritime Intelligence, also known as Lloyd’s List Intelligence, to equity firm Montagu for £385 million, or $458 million.
Lloyd’s List provides global shipping and insurance news.
The purchase follows by a month the news of Informa’s acquisition of B2B content platform Industry Dive for $389 million. Informa said in its half-year financial update that this purchase, along those of analytics platform IIRIS and NetLine has expanded its B2B digital services offering.
Asked why it is selling Lloyd’s, Informa Chief Executive Stephen A. Carter stated that the firm has “generated $3 billion (£2.4 billion) in value, providing additional flexibility for shareholder returns, additional growth investment and further targeted expansion,” according to City A.M.
On Thursday, Informa reported H1 revenue growth of 59.1% to £1,096.3 million and adjusted operating profit of £234.5 million.
The company produce 220+ live B2B events in the first half, attracting 28,000 exhibitors, 1.1 million attendees and more than £450m of revenue.
Lloyd’s List had its origin in 1734. It “infamously listed the insurance of the doomed Titanic and her sister ship, the Olympic, on behalf of the White Star Line,” City A.M. writes.