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The Economist Group, publisher of The Economist and CFO magazine, announced today that it will acquire EuroFinance Conferences Ltd. The company is a leader in global and regional cash and treasury management events for senior finance professionals - an audience that The Economist Group already targets through its CFO (Chief Financial Officer) brand around the world.
The Economist Group's strategy is to invest in media brands for senior business people and decision-makers. The acquisition of EuroFinance is an excellent fit. Established in 1994 by Caroline Bond, EuroFinance Conferences has developed a world-class reputation and leadership position in the cash and treasury management market, running over 20 conferences a year globally as well as a successful international training division. Its flagship event, recognised as the largest international treasury conference in the world, attracts over 1,500 annual senior treasury professionals. EuroFinance Conferences was acquired for $9.5 million in cash with a deferred payment of up to $2.5 million based on the performance of the business.
EuroFinance will become part of CFO Publishing, a division of The Economist Group that includes CFO magazine in the US, CFO Europe, CFO Asia, CFO China, CFO Enterprises and CFO.com.
The new Managing Director of EuroFinance Conferences, Carolyn Meier, will report to Andrew Altmann, International Publisher, CFO Europe, Asia and China. EuroFinance staff will remain with the company.
The Economist Group provides analysis and information on developments in international business and world affairs. The company delivers its objective analysis and original insights through a range of formats, from newspapers and magazines to conferences and electronic services. Senior finance professionals are an important sub-set of the Group's audience and their information needs are changing rapidly along with their role. Increasingly, CFOs and treasurers are becoming financial strategists and business partners, who are deeply involved in non-financial as well as financial aspects of a corporation's activities.
EuroFinance will enable the Group to address the needs of this community better and the Group will enhance EuroFinance's existing business by using its print and electronic capabilities to develop the brand and by leveraging its deep relationships with business decision-makers.
"We are delighted to have acquired EuroFinance Conferences and look forward to becoming more prominent in this important market," said Helen Alexander, Chief Executive of The Economist Group. "The fit between the Group and EuroFinance is very good: the acquisition brings together CFO, our magazine and events business for senior financial executives, and one of the most respected names in cash and treasury management events. We complement each other well, with very little overlap in our activities. We look forward to welcoming the excellent team from EuroFinance to the Group."
Commenting on the acquisition, Caroline Bond, the outgoing managing director of EuroFinance Conferences, said: "I am pleased that EuroFinance is being acquired by The Economist Group. The high regard in which the Group is held around the world, both for its editorial and its commercial know-how, means that it is ideally placed to help the business develop its core offerings and to add new, complementary products so that we can substantially enhance the service we offer clients and delegates. We look forward to working together to develop further our outstanding content, events and training around the world."
Learn more: http://www.eurofinance.com
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