Publishing and events firm Informa buys stake in Founders Forum
Publisher and events company Informa has taken a minority stake in entrepreneur network Founders Forum as it posted revenue growth for the first 10 months of the year.
The FTSE 100 company’s investment will see the two firms launch a joint venture to offer “high-profile connections” in the tech industry and expand London Tech Week.
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It came as Informa revealed a 2.8 per cent rise in revenue for the 10 months to the end of October, pushing shares up just under one per cent.
The business media group, which operates events and exhibitions across a range of sectors, also said it expected seasonally stronger trading in November and December.
The two-month window is usually a key period for Informa, accounting for 20 per cent of its annual revenue. November alone contributes more than £350m in revenue, the firm said.
Informa, which snapped up IHS Markit’s tech business in August, said the investment in Founders Forum will help boost its £300m tech division.
Founders Forum was created in 2011 by Lastminute.com entrepreneur Brent Hoberman and media veteran Jonathan Goodwin.
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It has since expanded beyond its flagship London event and has welcomed a string of high-profile attendees including Sir Richard Branson, former Google chairman Eric Schmidt and media mogul Arianna Huffington.
Informa chief executive Stephen Carter said: “After 10 months’ trading in 2019, despite an unpredictable economic/geo-political backdrop, the enlarged Informa Group continues to demonstrate resilience and performance, remaining on track for a sixth consecutive year of growth in underlying revenue, profit, adjusted earnings and cashflow.”
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