Publishing company Pearson is to buy financial news provider Mergermarket for £101 million, it has been revealed.
Pearson, which owns the Financial Times, said the deal would boost adjusted earnings per share in 2007, and start providing a return on invested capital the following year.
FT Group head Rona Fairhead said: "We see opportunities to connect Mergermarket and the FT Group, from the Financial Times and FT.com to our specialist financial magazines and Interactive Data Corporation."
Robin Monro-Davies, chairman of the Mergermarket group, said following a review of strategic options "we have come to a definitive agreement" to sell the business to the FT Group.
Mergermarket's products and services provide financial information products for clients including investment banks and law firms.
The company has head offices in London, New York and Hong Kong and 200 journalists worldwide, providing intelligence and historical data via the mergermarket, dealReporter, Debtwire and wealthmonitor online platforms.
