DMG Information (DMGI), the information publishing division of Daily Mail and General Trust (DMGT), has reached agreement to acquire Genscape, for a cash sum of £73 million, with additional payments up to a maximum of £37 million payable between 2008 and 2011 based on future financial performance.
Genscape is the market-leading provider of real-time energy generation and transmission information to the energy trading markets in North America and Europe. In the most recent financial year to December 31, 2005, Genscape’s revenues increased by 76% to £7 million.
The acquisition is consistent with DMGI’s strategy of investing in high growth businesses that offer mission critical information and analytics to niche markets.
DMGT recently announced the sale of Aberdeen Journals Limited to Scottish publisher, D.C Thomson for £105 million (see DMGT Sells Aberdeen Journals).
Following the deal, D.C Thomson, will pay £27 million into DMGT’s pension scheme, with the payment giving Aberdeen Journals an enterprise value of £132 million.
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