Euromoney enters techie market

Euromoney, the international online information and events group, is moving into the technology sector with an eight million dollar offer to buy up Californian outfit TTI/Vanguard.

It is to pay $8m for an 87% stake in the US firm, with the remaining equity to be acquired in two stages of an earn-out (based on performance) by December 2014.

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Under its Institutional Investor brand, Euromoney already runs a Financial Technology Forum in the United States.

The firm said it had a strong record of running and successfully building subscription memberships in asset management in the US, Europe and Asia.

It now hopes to apply this expertise to grow TTI/Vanguard's business globally.

Richard Ensor, Chairman of Euromoney said the deal took his firm into the high-technology content sector.

"Euromoney has a successful record of acquiring events businesses and accelerating their growth globally, as demonstrated over the past 15 years by the success of Institutional Investor which now has 13 subscription memberships around the world," he said.

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