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Conlumino’s owner to buy rival retail consultancy Verdict

Progressive Digital Media Group, the owner of Conlumino, has signed a deal to acquire Verdict, Datamonitor Financial, Datamonitor Consumer and MarketLine from Informa for £25m.

Progressive said the deal is part of its strategy to expand its premium subscription-based services into global markets.

Verdict, Datamonitor Financial, Datamonitor Consumer and MarketLine had a combined revenue of £17.8m for the year to December 31, and the adjusted earnings excluding central overheads were approximately £3m.

Simon Pyper, chief executive of Progressive, said: “The acquisition of these businesses will broaden [our] offering, providing scale and additional categories in an important industry sector.

“This acquisition will be our largest to date, yet of all the companies acquired by Progressive, these businesses are the ones we are the most familiar with.

“Whilst some investment will be required this year and next, the board is confident that this acquisition will provide a platform for future growth.”

Conlumino was founded in 2011 by retail analysts Neil Saunders, Matt Piner and Simon Chinn, while Verdict was founded in 1984 by Richard Hyman, who sold the company to Datamonitor for £4.7m in 2005.

@Tara_Hounslea

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