Euromoney snaps up networking platform Relationship Science in $7.4m deal
Financial data firm Euromoney today said it has acquired networking platform Relationship Science in a deal worth $7.4m (£5.2m).
The London-listed company said the bolt-on deal would add further scale to its growing people intelligence business and bring further value to clients.
Relationship Science provides relationship-mapping services, giving users data on how two different businesses or individuals may be connected.
It serves financial, professional services and non-profit organisations and its platform contains more than 9m profiles of global business leaders and senior management.
The New York-based company generated sales of $8.3m for the year to the end of December.
Euromoney said the deal was expected to deliver accelerated growth over the medium term following integration and further investment.
“The acquisition of RelSci is another highly complementary addition to the Group and demonstrates our continued focus on building scale in our 3.0 People Intelligence business,” said James Lavell, chief executive of people intelligence at Euromoney.
“We have established a market-leading team within People Intelligence and this acquisition builds upon that. By including RelSci’s expertise, user-friendly platform and expanded dataset, we open the door to a number of additional ways we can improve value for clients old and new.”
It comes days after Euromoney restored its half-year dividend following a growth in subscriptions.
This helped to mitigate the impact of the cancellation of physical events, which took its toll on both revenue and profit.