Acquisition

RNS Number : 5934G

Pearson PLC

03 February 2010

 



3 February 2010

PEARSON ACQUIRES MEDLEY GLOBAL ADVISORS

Leading provider of macro policy intelligence to investment banks, hedge funds and asset managers

Pearson, the international education and information company, today announces the acquisition of Medley Global Advisors LLC (MGA), a premier provider of macro policy intelligence to the world's top investment banks, hedge funds and asset managers. The acquisition strengthens the FT's position as a global leader in premium financial information. MGA had estimated gross assets of $7.3 million at the year end.

Medley Global Advisors provides in-depth research and analysis through email and verbal consultations to help clients understand and anticipate the major policy events driving interest rate, currency and energy markets.

The acquisition will enhance the FT's portfolio of services geared towards major global financial institutions and asset managers, including FTfm, its global fund management supplement, and Money-Media, the market leader in online news and commentary for the fund management sector.

"This acquisition delivers another premium service to an important FT audience and reinforces our strategy of building strong subscriber and digital businesses in core sectors,"  said John Ridding, Chief Executive of the Financial Times.

"MGA holds a unique position at the crossroads of the policy world and financial markets, combining primary research with direct access to policymakers to deliver breaking news and deep insights,"  Ridding said. "We see strengths across its portfolio of businesses, which complement existing FT efforts and strategy, and substantial scope for international growth."

The business will continue to be run from its headquarters in New York City and will maintain offices in Washington, DC, London, Frankfurt, Beijing and Tokyo. The team will look to grow the business both in the US and globally.

Craig Sawin, president of Medley Global Advisors, said: "This acquisition marks an important step in the development of MGA's business and we're delighted to be a part of the Financial Times. The FT's strong global position and expertise will strengthen our offering and serve as a great springboard for continued international expansion."

ENDS

For more information:

Charles Goldsmith/Simon Mays-Smith:                                 + 44 (0)207 010 2310

 

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