Euromoney buys mobile infrastructure information firm TowerXchange

The FTSE 250 company described TowerXchange as a “fast-growing” information and events business which had become the “leading source” of information on the tower market - the infrastructure supporting the growth of the mobile telecoms market.

Acquiring TowerXchange was part of Euromoney's telecoms strategy to facilitate industry collaboration and trading in areas ranging from pricing to standards across the telecoms ecosystem, its board explained.

“TowerXchange is an excellent business which serves an increasingly important part of telecoms infrastructure,” said Euromoney’s director responsible for telecoms businesses, Rosalind Irving.

“It is strategic for Euromoney because it is highly complementary to the markets served by TelCap, BroadGroup - in which we invested in Marc- ) and Layer123 - acquired in April.

“We look forward to working with the expert TowerXchange team.”

Kieron Osmotherly, CEO of TowerXchange, said: the company was “excited” to be joining the Euromoney family.

“[It will enable] us to accelerate our events' growth, cultivate new business intelligence services and expand ours and our customers' insights into adjacent segments of telecom infrastructure.”