IHS Markit and Informa Swap Business Units

Information and analytics firm IHS Markit has exchanged its Technology, Media and Telecoms (TMT) intelligence business for the Agribusiness Intelligence group which was previously part of publishing, information and events group Informa.

IHS Markit says its new Agribusiness unit will build on its existing data, pricing, insights, forecasting and news services, extending its capabilities into fertilizers and chemical crop protection, and 'substantively expanding' its capabilities in biofuels.

The transaction values the two exchanged businesses at equivalent EBITDA multiples, with Informa contributing an additional $30m cash to IHS Markit to reflect the larger EBITDA contribution from the TMT business. IHS Markit will retain RootMetrics, its benchmarking business and a portion of its market intelligence business. Both transactions are expected to close in July and are subject to customary closing conditions, including US regulatory approval.

Lance Uggla, CEO of IHS Markit, comments: 'The Informa Agribusiness Intelligence portfolio is a clear extension of our Chemical and Downstream businesses and builds our existing data, pricing, insights, forecasting and news services within our Resources segment. Stephen Carter, Group CEO of Informa, says his group is focused on improving its depth and specialisation around 'attractive customer markets'. He adds: 'Our ambitions for Informa Tech will be further enhanced by the addition of the IHS Markit TMT portfolio, extending our customer and international reach, creating a strong platform for future growth'.

Web sites: www.ihsmarkit.com and www.informa.com .