- Euromoney Institutional Investor, the international online information and events group, has acquired a 10% interest in Zanbato, an international private capital placements platform and workflow tools provider, for a consideration of $5.5m, funded from its existing cash resources.

It says its decision to invest in Zanbato is consistent with its strategy of expanding its digital offering into workflow solutions and follows the recent investments in Dealogic, a leading SaaS platform for the global investment banking sector, and Estimize, a crowdsourcing platform for corporate earnings' forecasts.

Euromoney's chairman, Richard Ensor, said: "Over 45 years, Euromoney has built a wealth of trusted relationships with the buy-side and sell-side of the global asset management and capital markets sectors, which we are now using to create specialist digital communities.

"Our partnership with Zanbato will enable our Institutional Investor division to expand further its digital revenue streams by tapping into the fast-growing online private placement market. Over the next five years, this sector has the potential to create a significant opportunity for placement platforms. With its advanced SaaS technology, Zanbato is well placed to take an important share of this market."

At 11:30am:

[LON:DMGT] Daily Mail and General Trust PLC share price was -0.75p at 749.25p

[LON:ERM] Euromoney Institutional Investor PLC share price was -14.25p at 966.75p

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