Informa PLC, a London-headquartered publishing, business intelligence, and live events group, has set out to acquire Clarion Events, the company behind ICE, the world’s leading gaming exhibition. Clarion officials commented on the matter, saying that the transaction is a testament to the quality of its business.
Clarion’s Business Will Continue as Usual
According to the announcement, Informa has put forward some GBP 2.24 billion ($2.97 billion) to acquire Clarion Events, a leading B2B Live Events business, from Blackstone, the world’s largest alternative asset manager. The deal follows earlier reports that stated that Blackstone was looking to sell Clarion Events.
This also means that WorldGaming, Clarion’s arm responsible for the ICE event, iGB events, and the Indian Gaming Tradeshow, will also change hands.
After the deal closes, Clarion will be integrated into the Informa portfolio, although not much else will change. According to Clarion, its business will “continue as usual,” meaning that gaming industry stakeholders should not worry about the future of ICE and iGB-branded events.
The deal seems to enjoy a positive reception by Informa stakeholders as it caused a spike in Informa’s share price. As of the time of this writing, Informa’s shares are worth GBX 907.8 ($12.03) apiece.
Blackstone Believes That Clarion and Informa Are a Perfect Fit
As mentioned, Clarion leaders were very pleased with the transaction. According to Lisa Hannat, the company’s chief executive officer, Informa’s decision to invest in Clarion is a testament to the quality of Clarion’s business, brands, and people.
This is a moment to recognize the outstanding contribution of our teams. Their passion, expertise and commitment have helped build the successful business that Informa is investing in today.
Lisa Hannat, CEO, Clarion Events
Stephen Carter, Clarion’s CEO, was similarly pleased with the transaction, lauding Clarion’s world-class B2B brands and talent. Carter added that Informa and Clarion share the same focus on delivering impact and value to a global roster of customers and partners.
We’re excited to bring Clarion’s brands and teams into the Informa group and to further grow and expand our leading international B2B Live Events business.
Stephen Carter, CEO, Clarion Events
Carter also said that the acquisition of Clarion is expected to bolster Informa’s long-term strategy.
Lionel Assant, global co-CIO at Blackstone, added that he believes that Informa and Clarion are a perfect fit.