LONDON: Informa PLC announced plans Tuesday to separate its academic publishing business, Taylor & Francis, and acquire B2B events company Clarion in a £2.24 billion ($2.98 billion) deal, as the British group sharpens its focus on its core live events and business-to-business operations.

The London-listed company said the separation of Taylor & Francis, which generates nearly $1 billion in annual revenue, will allow the academic publisher greater independence and flexibility. Informa has launched a formal review of options for the business and will report outcomes alongside its 2026 full-year results in March 2027.

“Informa is today accelerating the focus on our core B2B business, as we announce plans to separate our Academic Markets business, Taylor & Francis,” Group Chief Executive Stephen A. Carter said in a statement.

The Clarion acquisition, from private equity firm Blackstone, will add more than 100 B2B live event brands to Informa’s portfolio, including the IFA Berlin consumer electronics show, the DSEI defense and security exhibition, and the ICE gaming convention in Barcelona. The deal values Clarion at 11.1 times its expected 2027 earnings before interest, taxes, depreciation and amortization, or about 9 times including projected cost synergies.

Informa said the combined company will have annual revenues exceeding $6 billion and underlying revenue growth of 7%. The acquisition is expected to boost adjusted diluted earnings per share by mid-single digits in 2027 and deliver a double-digit post-tax return on invested capital within three years.

The transaction will be funded through committed acquisition financing and an equity placing of approximately £940 million, representing about 9% of Informa’s issued ordinary share capital. The company will pause its current share buyback program. Informa said pro-forma net debt-to-EBITDA is expected to remain below 3 times at year-end 2026 and fall below 2.5 times by year-end 2027.

Clarion CEO Lisa Hannant will remain in her role and join Informa’s executive leadership team upon completion, which is expected in the fourth quarter of 2026, subject to regulatory approvals.

Informa said it has identified more than £50 million in annual run-rate operating synergies and targets an additional £25 million in operating profit through revenue synergies by 2029, including international syndication of brands and cross-marketing initiatives.

Carter noted that Taylor & Francis revenues have grown fourfold since joining Informa in 2004 and now approach $1 billion, with underlying growth of 4%.

“With Taylor & Francis approaching $1 billion in revenue … we believe it will now benefit from greater flexibility and freedom through the next phase of its development,” he said.

Informa also reported continued growth in 2026, with strength in the Americas, Europe and Asia across cybersecurity, pharmaceutical and jewelry events. The company reaffirmed full-year guidance of more than 6% underlying revenue growth and double-digit growth in underlying earnings per share.

The company’s largest institutional shareholder has expressed strong support for the equity placing. Executive directors, leadership and the board, including Chair-Elect Tom Glocer, are participating in the placing. Clarion’s CEO will also roll over a portion of Clarion equity into Informa shares upon completion.