Informa to buy Cannes Lions owner Ascential for $1.5 billion

New Delhi: Informa is set to buy Ascential, owner of Cannes Lions, for $1.5 billion in cash. The deal, pending shareholder approval, is expected to close in Q4.

Informa aims to expand Ascential’s conferences, particularly Money20/20 into the Middle East and Africa, leveraging investor interest in fintech.

Informa has increased its profit outlook for 2024 to $1.3 billion, driven by growth, international expansion, and AI partnerships.

The Cannes Lions conference will become part of a new Informa Festivals business.

Stephen A Carter, Chief Executive of Informa, said, "Informa is in the business of creating, nurturing, and growing world-class B2B brands. Lions and Money20/20 are outstanding examples of such brands. Combined, we can expand them into more sectors, accelerate growth, and take advantage of new opportunities."

Philip Thomas, Chief Executive of Ascential, said, "I am extremely proud of all of Ascential's brands, and the people who work so hard to deliver for them every day. Our two divisions, Lions and Money20/20, have transformed how our customers around the world experience events, and benefit from both digital intelligence and advisory services. The value our businesses bring to their respective industries is clear as is the regard in which they are held by Informa.”