StockMarketWire.com - Specialist information group Ascential said Friday it had acquired Warc Limited for an initial £19.5m.

Ascential said it would combine Warc with Cannes Lions' The Work, to form a digital subscription product of scale.

As well as the initial £19.5m payment for the acquisition, £4.5m would be paid in 2019.

In the year to 31 March 2018 WARC had generated unaudited revenue of £10.8m and earnings (EBITDA) of £2.2m.

The acquisition of Warc is expected to be completed on 2 July 2018.






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