London – T&F Informa, a U.K. publisher of business, industry and academic materials, said yesterday it had offered 768 million British pounds ($1.4 billion) in cash to purchase global conferences and exhibitions firm IIR Holdings Ltd. in a bid to grow its conference business and extend its U.S. presence. T&F Chief Executive Peter Rigby cited strong potential for earnings growth and a “substantial and immediate position in the rapidly growing performance improvement market” as primary reasons for the acquisition.
IIR (The Institute for International Research) organizes roughly 1,400 conferences per year such as the Disease Management Congress, ProjectWorld and the National Congress on Medicaid and Medicare. It also provides performance improvement consulting to Fortune 500 companies and U.S. government agencies. IIR has 47 companies operating in the U.S., Europe, Asia, South America and the Middle East. The firm’s 2004 revenue of $573 million was up 20% over 2003.
T&F Informa was formed in 2004 through the merger of publisher Taylor & Francis and Informa, the former publishing division of London-based Corporation of Lloyds insurance specialist.
Reach Debra Chipman, President, IIR at (212) 661-3500 or dchipman@iir-x.com.
