Britain’s Informa announced that it has agreed to acquire Ascential, the owner of the Cannes Lions Festival, for $1.6 billion (£1.2 billion) . This acquisition will add the premier advertising industry conference to Informa’s portfolio of events.
Informa stated that it plans to expand both events and accelerate growth, leveraging its data platform and expertise in the marketing and fintech sectors.
Informa Chief Executive Stephen A. Carter noted that both companies achieved double-digit growth in the first half of the year and expressed confidence in their future prospects. He highlighted that powerful brands serving specialist markets are performing exceptionally well and emphasized that the acquisition is focused on growth rather than cost reduction.
Informa is a leading international events, digital services and academic research group.
The Cannes Lions International Festival of Creativity, held annually in Cannes, France, is renowned for hosting the world’s most prestigious advertising awards. It celebrates creativity, effectiveness, and innovation in the global advertising, marketing, and communication industries.
