Informa Sells U.S. Government Contract Business Robbins – Gioia

Posted by Joachim Bartels | May 29, 2012 | Business Intelligence, Business Process Outsourcing, Consultative Services, Informa Plc UK, Ownership Changes of Information Companies, United Kingdom, United States | 0 |

Informa plc has sold off its non-core Robbins Gioia division to management.

U.S.-based Robbins Gioia — which is a consulting company mainly to the U.S. government — was acquired by Informa in 2005 and has come under pressure as a result of the U.S. government moving more work in house. The business reported a 15 percent drop in revenue last year, prompting Informa to adjust the carrying value of Robbins Gioia’s net assets, resulting in a 50.7 million pound ($79.5 million) impairment charge.

Robbins-Gioia (R-G) had announced that it has been acquired by a management-led team of investors, a move that will establish the firm as an independent, US-owned entity once again. Terms were not disclosed.

Informa — which publishes real-time news, research, market intelligence, academic books and journals — had posted an adjusted pretax profit of 295.9 million pounds last year.

Source: Reuters

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Joachim Bartels

Joachim C Bartels is a co-founder, director, head of information resources and Editor-in-Chief of BIIA. In his capacity as Editor-in-Chief he is responsible for the selection of relevant information content concerning industry insights, trends, technological developments, standards and policies impacting BIIA members in particular and the business information industry in general.

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