Tue, 30 Jul 2013 | DIVISION SALE
Mergermarket, the Pearson-owned platform releasing forward-focused intelligence from the M&A sector, has been put up for sale.
The FT Group business brings in £100 million a year, but is considered to be an illogical fit to Pearson’s aim of becoming a leading education company.
Rumours that the Financial Times may also face an uncertain future have been kicked up after the announcement. John Fallon, Pearson’s chief executive, swiftly put this speculation to bed confirming that the paper is not for sale.
“The FT is not for sale, there has been no process or any discussions about selling the FT and there have been no approaches regarding the FT,” Fallon said.
The FT Group recorded flat sales of £217 million for the first six months this year, albeit with a 24 per cent year-on-year rise in adjusted operating profit to £26 million, showing some resilience in the difficult advertising markets.
Pearson recorded overall sales of £2.75 billion - a 7 per cent increase year on year - alongside adjusted operating profits of £137 million - a 26 per cent fall - figures that analysts expected.
Commenting on the results Fallon said: “In trading terms, 2013 has begun much as we expected. In general, good growth in our digital, services and developing-market businesses continues to offset tough conditions for traditional publishing.”
Mergermarket has a network of M&A journalists and analysts in 65 countries across the globe. Established in 2000, it was purchased by the FT Group in 2006.
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