Reed Smith has advised GlobalData Plc on the conditional acquisition of the entire issued share capital of Research Views Limited.
GlobalData will pay for the deal using 16.0 million shares in the company, worth around GBP90.0 million based on the average price of 564 pence per share over the last month. In addition, GlobalData will assume GBP9.8 million in net debt on completion.
Research Views is controlled by GlobalData Chief Executive Officer Mike Danson amongst other shareholders.
In 2017, Research Views generated earnings before interest, tax, depreciation and amortisation of GBP2.1 million on revenue of GBP27.0 million. The acquisition is expected to be earnings enhancing from the first full year of ownership.
Formed in early 2016 following the consolidation of a series of well-established data and insights solution providers, GlobalData is one of the world’s leading data and analytics providers serving a growing global client base, which is diversified across geography, size and industries. In 2017, GlobalData generated Ebitda of GBP23.4 million on revenue of GBP121.7 million.
The Acquisition remains subject to binding legal agreements and there can be no certainty that these discussions will lead to a transaction.
Reed Smith has advised GlobalData on the deal with a team led by Philip M. Taylor (picture), alongside Delphine Currie, Caspar Fox, Victoria Bryden, Nicola A. Delaney and Emma C McGrory.
Law Firms: Reed Smith;
Clients: GlobalData Plc;