Trade show organiser Informa is to combine its financial intelligence division with US-based data services provider Novantas as part of deal with London-based private equity firm Inflexion.

The investment is being made by Inflexion’s dedicated minority investment fund, Partnership Capital II, and will bring together Informa’s financial benchmarking & omnichannel experience business (FBX) with Novantas to provide a data service for the retail banking market.

According to industry sources, the combined enterprise value of the new business is in excess of $500m.

The new business will combine the brands and operations of FBX and Novantas to provide retail banking data, intelligence and software solutions together with data on mortgages, consumer lending, consumer deposits and digital banking.

Inflexion manager partner Simon Turner said: “The combined business will benefit from an expanded range of solutions with a strengthened market position.”

Under the terms of the transaction, Informa will retain a majority stake in the combined business, with Inflexion and Novantas shareholders investing alongside Informa to retain “significant” minority stakes, according to a statement from Inflexion.

Last week FTSE 100 Informa Plc posted a statutory loss of £800m following the pandemic-related shut down of the exhibitions and conferences sector.

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Originally Appeared On: https://www.penews.com/articles/inflexion-invests-in-merged-informa-novantas-financial-intelligence-business-20210426