The transaction is expected to complete in late July, subject to a staff consultation process.
Metropolis International Group was founded in 1994 and has grown both organically and via acquisitions into a business with over 200 employees. Electronics Weekly and IBIS will sit within Metropolis Business Media, headed by Managing Director Kevin Crook.
Kevin Crook, MD, Metropolis Business said: “Electronics Weekly and IBIS-WALF are trusted brands in their fields and are an excellent fit with our expanding business to business portfolio. I am looking forward to welcoming on board, and working with, the well-regarded Electronics Weekly and Ibis teams.”
Dominic Feltham, COO, Reed Business information said: “Both Electronics Weekly and IBIS-WALF have been a valued part of our business. RBI’s strategy is focused on paid content and data, and we recognise that Metropolis’ independent ownership should provide them with long-term investment and a secure future for the teams and brands.
Robert Marr (pictured), CEO Metropolis said: “I am delighted to have the opportunity to acquire such well-known and respected brands. I am confident they have a strong sustainable future within the Metropolis portfolio. Metropolis is committed to growth, both organically and by acquisition, in publishing and other activities. These acquisitions are a further development of that strategy.”
