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A Big Info Industry Deal

June 29

The Thomson Corporation (NYSE: TOC) today announced its agreement to purchase Stamford, CT-based Information Holdings (NYSE: IHI) for $28 per share in cash. The deal totals $585 million and it augments Thomson’s sprawling information empire with a suite of information solutions for pharmaceutical and intellectual property customers.

Thompson’s president/CEO Richard Harrington said, "With this transaction, we're acquiring four businesses that can be seamlessly integrated into our Scientific and Healthcare group.” Those businesses are:

Micropatent, a database of patent documents that complements current Thomson products.

Aureka, a set of tools used to analyze and visualize patent data.

Master Data Center (MDC), a suite of IP management software and payment services.

Liquent, regulatory software and solutions that support life science and drug filings.

In the last 12 months, IHI generated about $86 million in sales with an EBITDA of $20 million. So Thomson’s price represents a rich multiple of about 7x sales and nearly 30x EBITDA.

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