UBM sells £160m data services arm to Electra

City A.M. Reporter
MEDIA and marketing services company UBM said yesterday it has received a £160m binding offer from private equity firm Electra Partners for a portfolio of its data services businesses.

The deal consideration includes a £40m vendor loan note, UBM said in a statement.

The businesses being sold represent a bulk of UBM’s data services operations including its health, technology and IP, trade and transport, and paper business units.

Revenue from these businesses for 2012 is estimated at around £179m.

Margins at the data services business, which provides information sets and data sets to customers, were hurt as advertisers cut back on higher-margin print advertisements in directories post their transition to a digital format.

UBM will issue its full-year results on 1 March.