GlobalData makes two acquisitions in automotive, agribusiness sectors

Industry intelligence company GlobalData announced the acquisition of both LMCA Holdings and LMCI Holdings on Friday, which provide data, analytics, and insights of the automotive and agribusiness markets, respectively.

The AIM-traded firm said the acquisitions would add “further scale and capabilities” to its existing automotive intelligence proposition, and bring new agribusiness data to broaden and complement its sector coverage.

It said the acquisitions, following the Life Sciences acquisition earlier in the year, reflected a further step in its strategy to strengthen and expand its industry coverage and intelligence capabilities.

GlobalData said its 'One Platform' approach to data, analytics and insights gave it a “unique opportunity” to fully integrate, scale and develop bolt-on acquisitions such as LMCA and LMCI.

The acquisitions were being funded through existing facilities.

“The automotive and agribusiness acquisitions represent strategic bolt-ons and the high quality gold standard content adds depth and further breadth to our intelligence offering,” said chief executive officer Mike Danson.

“Our confidence in the success of these additions, as well as future mergers and acquisitions, is underpinned by the advantage of our ‘One Platform’ model.”

Danson said the platform provided “multiple levers” for realising synergies, as well as the ability to enhance product capabilities.

“The additions allow us to demonstrate the capability of our platform to new clients, as well as leveraging the operating efficiencies of scale.”

At 1114 GMT, shares in GlobalData were up 2.37% at 1,387.11p.