Informa Buys Datamonitor for $994 Million

Informa, the publisher of Lloyd's List maritime newspaper, said Monday it agreed to buy market intelligence firm Datamonitor for 502 million pounds ($994 million; 737 million euros).

Informa said the acquisition will add extra business data and content to its portfolio and expects the deal to save it 3 million pounds ($6 million, 4.5 million euros) a year in costs.

Informa Managing Director David Gilbertson said in a statement the acquisition will help its information products, especially in the health care, financial services and telecoms sector. It will also improve its technology and energy data businesses, he said.

Informa shares rose 0.2% to 623 pence ($12.35; 9.16 euros) on Monday morning.