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Events organiser Informa acquires Industry Dive, resumes dividend

·1-min read

(Reuters) -Informa has acquired specialist content and audience development platform Industry Dive for $389 million, the British events organiser said on Tuesday, adding that it will also resume interim dividends.

The events industry has been recovering from the pandemic-driven slump that forced cancellation of hundreds of shows and conferences amid lockdowns and travel restrictions.

"Industry Dive ... has repurposed the traditional B2B (business-to-business) publishing model for specialist markets in the digital age," Informa Chief Executive Stephen Carter said.

The company, which will announce a dividend of 3 pence per share in its interim results also reaffirmed its full-year outlook at the top end of its range on the back of robust demand for its services.

The exhibition company expects to report underlying revenue growth of more than 40% at over 1.05 billion pounds ($1.26 billion) for the six months ended June 30, 2022, and underlying adjusted operating profit growth of over 120% at more than 220 million pounds.

Shares of the company rose 3.4% in early trade.

($1 = 0.8351 pounds)

(Reporting by Sinchita Mitra and Radhika Anilkumar in Bengaluru; Editing by Subhranshu Sahu and Vinay Dwivedi)

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