Euromoney Institutional InvestorPLC Acquisition of The Jacobsen (4586N)

TIDMERM

RNS Number : 4586N

Euromoney Institutional InvestorPLC

01 February 2021

EUROMONEY INSTITUTIONAL INVESTOR PLC

ACQUISITION OF THE JACOBSEN

1 February 2021

Euromoney adds scale to Fastmarkets Agriculture with the acquisition of The Jacobsen

Euromoney Institutional Investor PLC ("Euromoney" or "the Group"), the global B2B information services provider of price discovery, essential market intelligence and events, announces the acquisition of The Jacobsen for $12.25m.

The Jacobsen is a Price Reporting Agency (PRA) providing price assessments and forecasts primarily in North American markets, including coverage of animal fats, feeds and vegetable oils as well as feedstocks for low-carbon intensive fuels, representing the intersection of agriculture and new energy. The Jacobsen generated sales of $2.4m for the 31 December 2020 year.

This is a highly complementary, strategic bolt-on acquisition for the Group's PRA business which accelerates its 3.0 strategy. The Jacobsen adds scale to Fastmarkets' position in agriculture following the recent acquisition of AgriCensus. The combination of complementary prices and markets alongside Fastmarkets' investment in technology, systems and people will underpin the growth of the businesses.

Low-carbon intensive fuels and the intersection of new energy and agriculture present attractive market opportunities, underpinned by a shift to renewable energy. In addition to Fastmarkets' price coverage of the battery raw materials that are essential for electric vehicle growth, the acquisition of The Jacobsen expands our presence in the US biofuel markets.

Raju Daswani, CEO Fastmarkets, said:

"Euromoney's price reporting agency, Fastmarkets, is a 3.0 business, providing commodity price benchmarks and analysis that is critical for our clients' processes and workflows.

"The acquisition of The Jacobsen is an important step in extending the reach and industry coverage of Fastmarkets: it will enhance our important and strategic position in the agriculture market and strengthens our position in North America. As part of Fastmarkets, The Jacobsen will develop this position further by leveraging our expertise in pricing and gaining access to our global PRA infrastructure."

For further information, please contact:

Euromoney Institutional Investor PLC

Wendy Pallot, Chief Financial Officer: [phone]; [e-mail]

Jo Britten, Head of Investor Relations: [phone]; [e-mail]

FTI Consulting

Charles Palmer / Jamie Ricketts / Jamille Smith: [phone]; [e-mail]

About Euromoney Institutional Investor PLC

Euromoney is a global information business providing essential B2B information in price discovery, market intelligence and events across our segments. Euromoney is listed on the London Stock Exchange and is a member of the FTSE 250 share index. www.euromoneyplc.com

LEI number: 213800PZU2RGHMHE2S67

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February 01, 2021 02:00 ET (07:00 GMT)