Informa has agreed to buy B2B events organiser Clarion from private equity firm Blackstone for £2.24bn as it launches a formal process to separate its academic publishing business, Taylor & Francis, in an effort to sharpen its focus on events.

The acquisition, expected to complete in the fourth quarter subject to regulatory clearance, will bring more than 100 specialist B2B brands into Informa's portfolio. The FTSE 100 company said combined B2B Live Events revenues will exceed £4.2bn across around 1,000 brands in more than 40 market categories and over 30 countries following the acquisition.

Clarion would add significant scale in North America, Asia and Europe, while creating opportunities to syndicate and adapt its brands internationally.

The deal adds major events like the consumer electronics-focused IFA Berlin, gaming conference ICE in Barcelona and defence event DSEI to Informa's roster. It is expected to accelerate growth and enhance earnings from next year.

The acquisition will be partly funded through a £940m equity placing, equivalent to around 9% of Informa's issued share capital.

At the same time, Informa said Taylor & Francis, which generates close to $1bn of annual revenue and is growing at around 4%, had reached a point where it could benefit from greater flexibility outside the wider group. It will review all options for the business and report the outcome alongside its 2026 full-year results in March 2027.

Stephen A. Carter, Informa CEO, said: ”Informa is today accelerating the focus on our core B2B business. The combination will underscore Informa as the UK-listed, international leader in B2B Live Events, with annual Group revenues exceeding $6bn and underlying revenue growth of 7%.

"With Taylor & Francis approaching $1bn in revenue, growing at 4%± and with its Open Research capabilities firmly established, we believe it will now benefit from greater flexibility and freedom through the next phase of its development, as Informa further expands the depth and reach of its B2B portfolio.”

Informa shares rose 3.9% to 895p on Tuesday morning.

AJ Bell head of markets Dan Coatsworth said: "The events arm has benefited from a post-pandemic surge in demand, and management are looking to double down through the sizeable acquisition of rival Clarion and by spinning off its academic arm Taylor & Francis.

"While potentially less profitable and exciting, the publishing side is arguably more defensive and less exposed to fluctuations in the economy. In the future, that could mean Informa is more of a rollercoaster ride for shareholders.

"Although Covid felt like a once in a generation episode, it had a massive impact on the events world. Some investors may be nervous about Informa being exposed to the risk of in-person gatherings being disrupted in the future.

"For now, the market has taken the news positively, despite the dilution implied by a major fundraise, but will be keen for clarity on plans for the future of Taylor & Francis which have been promised alongside next year's full-year results."

---