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Pearson Said to Seek Up to $500 Million for Mergermarket which has $150 Million in sales with more than 500 journalists and analysts to offer financial news and information to clients including banks and hedge funds

Pearson Said to Seek Up to $500 Million for Mergermarket

Pearson Plc (PSON) is seeking as much as $500 million for its financial-information division Mergermarket Ltd., with first-round bids due by the end of September, according to people with knowledge of the matter. The company sent information on the business to potential buyers last week, said two people, who asked not to be identified because the information is private. Private-equity firms including Warburg Pincus LLC are among the interested parties, the people said. Mergermarket posted about $150 million in sales last year, Pearson Chief Executive Officer John Fallon said at the company’s earnings meeting last month. The company, which has more than 500 journalists and analysts globally, was founded in 2000 to offer financial news and information to clients including banks and hedge funds, according to its website.Pearson is planning to enter talks with two or three bidders by November and reach an agreement by the end of the year, one person said. The London-based publisher and education company expects private-equity buyers to have committed financing lined up for bids to be considered, the person said. JPMorgan Chase & Co. is running the sale.

Mergermarket’s management team will have a say in choosing a winner, one person said. The team, led by CEO Hamilton Matthews, would prefer a sale to a buyout firm so it can operate the company outside of the scrutiny of public shareholders, the person said.

Pearson acquired Mergermarket in 2006 for 101 million pounds, or $192 million at the time, and it is part of the company’s FT Group, which also owns the Financial Times newspaper.

Bloomberg LP, the owner of Bloomberg News, competes with Pearson in providing news and information to the financial-services industry.

To contact the reporter on this story: Jodi Xu in New York at jxu205@bloomberg.net

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About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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