Dow Jones & Co. said Friday it has agreed to acquire UK publisher eFinancialNews Holdings Ltd. for 26.1 million British pounds ($51.8 million), subject to a working capital adjustment.
London-based eFinancialNews’s flagship operations include the weekly Financial News publication and eFinancialNews.com Web site, a subscription-based service.
Dow Jones expects the deal to have no impact on its per-share earnings in 2007, but add 3 cents to 5 cents in 2008. The deal is expected to close in the second quarter.
EFinancial, which also publishes Private Equity, a weekly publication focused on the European private equity sector, is forecast to have 2007 revenue of 15.4 million, Dow Jones said. About 54% of eFinancial’s 2007 revenue is expected to come from non-print sources.
Dow Jones is the publisher of The Wall Street Journal, Dow Jones Newswires, and MarketWatch.