Caixin Global and CITIC Capital Jointly Acquire Top-Tier International Financial Information Provider
(Hong Kong/ Beijing, February 12, 2018) – Caixin Global, the overseas arm of Caixin Media that focuses on English news, intelligence and the global market, along with private equity arm of CITIC Capital Holdings Limited (CITIC Capital), have agreed to purchase financial information database operator Global Markets Intelligence Division (GMID) from Euromoney Institutional Investor PLC（a London Stock Exchange listed company) for $180.5 million.
GMID’s two main units are CEIC and EMIS, which provide global financial information and data from the macro and micro perspectives, respectively, with a focus on key financial and business data for emerging markets. The products are available in over 15 languages, and are trusted tools used by financial institutions, consultants, multinationals, and researchers worldwide.
Following the purchase, CEIC and EMIS, whose rich base of financial data products are mainly PC-based, will devote more resources to focus on designing customized data products that match clients' workflows. Those products will cover a range of interfaces, from PCs to mobile devices, enabling professionals around the world to access premium global financial data in a timely and easy manner.
The acquisition is expected to be completed by the end of April 2018. After that Caixin Global and CITIC Capital, along with the experienced management team from CEIC and EMIS, will jointly manage the company’s affairs. Caixin Global will take the lead in leveraging related capabilities and resources from Caixin Media and Caixin Insight, jointly design a series of financial data products suited for the Chinese market, and provide timely information and in-depth analysis for global users.
The acquisition marks another crucial step for the expansion of Caixin Media’s footprint in the financial data realm, following its introduction of the Caixin China PMI and establishment of Caixin Insight in 2015 and Caixin Global in 2016. Over the last three years, Caixin Media has implemented a dual strategy that combines traditional news with premium financial information and data services. Its English news products are read worldwide, and provide overseas institutional users with custom intelligence services. With the completion of this joint acquisition with CITIC Capital, Caixin Media has advanced its dual strategy, and will expand its data networks and sales channels around the world.
The private equity arm of CITIC Capital focuses on domestic and overseas buyout opportunities and is committed to the consumer and services industry, especially internet-based services businesses. This is the fourth carve out deal for CITIC Capital after the recent buyout of Wall Street English business, to help companies restructure and carve out business from parent company to unlock full potential of the acquired assets. With CITIC Capital’s strong network and resources in China, as well as CEIC’s and EMIS’s leading position in macro, industry, and business data and a wide customer base, the acquisition will help CEIC and EMIS to grow and expand their business especially in China market.
Hu Shuli, Publisher of Caixin Media, Chairwoman of Caixin Global said: “We are optimistic about GMID’s business and future. Caixin will further leverage the rising global influence of China’s economy, and combine state-of-the-art technology with its authoritative information service and data offerings. We will join forces together with GMID to provide indispensable data and insight for overseas and domestic financial industry professionals and stakeholders.”
Yichen Zhang, Chairman & CEO of CITIC Capital said: “We are very excited to make this investment in CEIC and EMIS, which are world-class platforms for macro-economic and business information. Together with Caixin, we look forward to working with the management team to continue growing the business and developing its global customer base.”
Aloisio Parente, CEO of GMID, added: “I am tremendously excited about the opportunities that this transaction will afford to our business, customers and staff. Both CEIC and EMIS have traditionally had a strong presence in and understanding of the key developing markets. I am certain that the relationship with CITIC Capital and Caixin will help us to further enhance the value and reach of our services in all parts of the world.”
Ms. Ma Ling
Tel: (86-10) 8590-5204
About CEIC and EMIS
CEIC was founded in 1992, and purchased by Euromoney in 2005. It provides a global economic database that covers over 200 countries and 18 macroeconomic sectors. It is one of the most comprehensive macroeconomic databases with cutting-edge data accessibility and quality control.
EMIS was founded in 1994, and purchased by Euromoney in 1998. As a business information provider for emerging markets, it provides financial institutions, consulting firms, multinationals and researchers with business information and market dynamics on over 125 countries and regions and over 250 industries.
About Caixin Global
Caixin Global is one of the most respected sources of macroeconomics, finance and business intelligence about China. Affiliated with Caixin Media, the country’s most independent and professional news outlet, Caixin Global provides news, intelligence and data tailored for industry professionals, China watchers, business leaders, policymakers and international institutions. It offers its English news via a 24/7 digital and mobile platform (caixinglobal.com), and runs a weekly digital magazine and a bi-monthly print magazine that is distributed in financial centres in the U.S., Hong Kong, Singapore and Zurich. In collaboration with the leading financial services provider, Caixin Insight, Caixin Global's intelligence arm offers policy analysis, industry monitoring, data services, and in-depth research with indispensable insights about Chinese economic policy and its financial markets.
About CITIC Capital：
Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages over USD22 billion of capital across 100 funds and investment products through its multiple asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 130 portfolio companies that span 11 sectors and employ over 820,000 people around the world.
CITIC Capital’s private equity arm, CITIC Capital Partners, focused on control buyout opportunities globally, has completed over 50 investments in the past years in China, Japan, U.S. and Europe. The private equity arm currently manages USD4.6 billion of committed capital. For more information, please visit www.citiccapital.com
About Euromoney Institutional Investor PLC
Euromoney Institutional Investor PLC (www.euromoneyplc.com) is listed on the London Stock Exchange and is a member of the FTSE 250 share index. It is an international business-information group covering asset management, price discovery, data & market intelligence, and banking & finance under brands including Euromoney, Institutional Investor, BCA Research, Ned Davis Research and Metal Bulletin. The group also runs an extensive portfolio of events for the telecoms, financial and commodities markets.