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17 Aug 2018 | 09:14

Bonhill Group acquires InvestmentNews for $27.1m

Bonhill Group said Friday it had completed the acquisition of the trade and assets of InvestmentNews for $27.1m.

InvestmentNews is a Business Information and Data & Insight brands supporting the US financial adviser and wealth manager community.

The $27.1m (about £21.3m) deal was financed by an initial cash payment of $17.1m, and a £19.4m capital raise through the placing of shares.

For the year ended 31 December 2017, InvestmentNews reported audited revenues of $16.754m, down from $17.244m a year earlier, and increased profit before tax of $0.670m compared with $0.567m a year earlier.

At 9:14am: (LON:BONH) share price was +84p at 84p

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