Informa acquires Cannes Lions Festival owner Ascential
The deal, as per news agencies, is worth 1.2 billion pounds
Britain's Informa has reached a deal to buy Cannes Lions Festival owner Ascential for 1.2 billion pounds ($1.6 billion), adding the flagship ad industry conference to its portfolio of events, media networks have reported.
Shares in Ascential, which also owns the Money20/20 fintech events, jumped 26% to 565 pence in early deals, just shy of the 568 pence per share cash offer, Reuters has reported.
As per reports, Informa has said it will expand both events and accelerate growth, helped by its data platform and understanding of both the marketing and fintech sectors.
Informa announced the deal with financial results.
