Informa acquires Clarion Events, taking over ICE and iGB L!VE
Europe's two largest gaming trade shows are changing hands. Informa agreed to acquire Clarion Events from Blackstone for GBP 2.24 billion, equivalent to USD 2.96 billion, and the package includes WorldGaming, the unit that comprises ICE and iGB L!VE. The announcement was made on October 6, the closing is scheduled for the fourth quarter of 2026, and the valuation is 11.1 times Clarion's projected EBITDA for 2027.
Clarion enters the transaction with an expected revenue exceeding GBP 575 million (USD 759.4 million) for 2027, and in addition to gaming brands, it brings events serving sectors such as defense and electronics. Blackstone had acquired it in 2017 from Providence Equity Partners and supported it throughout the COVID-19 pandemic, a period when in-person events were almost frozen.
For the buyer, the acquisition fits into a strategic shift. Stephen Carter, CEO of Informa, stated that the acquisition allows it to return to its ambition of becoming the largest global operator of in-person B2B events, an objective reinforced by the spin-off of Taylor & Francis, the group's academic business, which leaves the company focused on this sector. Carter estimates that the combined group will exceed USD 6 billion in annual revenue with an underlying growth of 7 percent, and that upon closing the transaction, the in-person events business will generate over GBP 4.2 billion (USD 5.55 billion) distributed across nearly 1,000 specialized brands.
Geographical fit is the other argument. Informa adds complementarity in North America, Asia, and Europe, and opens the way to India, the Middle East, and Africa, three regions where Clarion has little presence. Alex Pratt, managing director of WorldGaming, stated that the buyer's database, digital capabilities, and international reach are exactly what Clarion's in-person and digital ecosystem needed to advance faster.
The financial transaction figures are also on the table. Informa projects annual operational savings of approximately GBP 50 million (USD 66 million) from efficiencies in operations, procurement, shared services, event organization, and corporate functions, and an additional GBP 25 million (USD 33 million) in annual operating profit from additional revenue by 2029. The financing combines cash with an equity placement plus an offer directed at retail investors, totaling approximately GBP 940 million (USD 1.24 billion), with share buybacks suspended to contribute to the payment. Pro forma net debt would be below three times EBITDA by the end of 2026 and below 2.5 times a year later, with a mid-single-digit improvement in diluted adjusted earnings per share in 2027 and, within three years, a double-digit return on invested capital after taxes.
On the selling side, there is continuity in leadership. Lisa Hannant will remain CEO of Clarion and will join Informa's executive leadership team. The executive described the transaction as a new chapter for the business and stated that by investing, Informa recognizes the quality of Clarion's brand portfolio and its team.
For the gaming industry, the relevant change is one of relative scale. ICE and iGB L!VE will become two brands within a portfolio of about a thousand, in a listed group that will measure them against defense and electronics trade shows, and not as sectoral institutions with their own logic. This has concrete consequences for the calendar, stand prices, and the decision to open or close regional editions, which from now on will be made based on portfolio criteria. The transaction also comes in the same month that SBC consolidated its Lisbon summit as the leading European alternative, so the concentration of historical brands occurs just as a competitor capable of challenging their agenda has emerged.
Tags: Informa, Clarion Events, ICE, iGB L!VE