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Informa Acquires Clarion (ICE Owner) in £2.24 Billion Deal: A Comprehensive Guide

By jili tutorial · October 7, 2026

Informa Acquires Clarion (ICE Owner) in £2.24 Billion Deal: A Comprehensive Guide

Overview of the Acquisition

Global events and business intelligence company Informa has significantly expanded its already vast portfolio of live exhibitions and conferences by acquiring Clarion Events, the organisation behind the International Casino Exhibition (ICE) and other high-profile B2B events. The transaction values Clarion at £2.24 billion, based on its expected EBITDA (earnings before interest, taxes, depreciation, and amortisation). The deal is expected to close towards the end of Q4 2026, subject to standard regulatory approvals. This timing means that ICE will be under Informa’s management by the time its 2027 edition takes place in Barcelona between 18–20 January.

The acquisition marks one of the largest consolidations in the live events industry, bringing together two companies with complementary strengths in gaming, technology, defence, and professional services.

Valuation and Financing Structure

Multiples and Performance Targets

Informa is paying approximately 11x Clarion’s expected EBITDA. However, the effective multiple could drop to 9x if the company achieves £50 million in cost savings, and further to 8x if it reaches its expected operating profit of £25 million. This performance-linked pricing structure is a common mechanism in large M&A deals, incentivising both parties to deliver post-acquisition synergies.

Funding the Takeover

The £2.24 billion acquisition will be financed through a combination of:

This funding strategy allows Informa to maintain a balanced capital structure while minimising dilution for existing shareholders.

Strategic Rationale: Why This Deal Matters

Strengthening B2B Live Events Leadership

Informa’s Group Chief Executive, Stephen A. Carter, stated: “The combination will underscore Informa as the UK-listed, international leader in B2B Live Events, with annual group revenues exceeding $6 billion and underlying revenue growth of 7%.”

The acquisition of Clarion adds over a dozen major events to Informa’s portfolio, reinforcing its position as a dominant player in sectors such as gaming, defence, technology, and energy. The combined entity will operate on a global scale, with recurring revenues from both event attendee fees and sponsorship.

Expanding Beyond Gaming

While many industry professionals know Clarion primarily for ICE (the world’s largest casino exhibition) and iGB Live (the affiliate marketing conference for gambling), the company’s portfolio spans several high-value verticals:

SectorEvent BrandDescription
Defence & SecurityDSEIA major defence and security exhibition held in London, showcasing land, air, and naval technologies.
Consumer TechnologyIFA BerlinOne of the world’s leading trade shows for consumer electronics and home appliances.
Energy & DistributionDistributecFocuses on energy transition, smart grids, and distribution technologies.
Gaming & AffiliatesICE, iGB LiveThe flagship casino exhibition (now in Barcelona) and its affiliated iGB Live conference (relocated from Amsterdam to London’s Excel Centre in 2025).

Informa will integrate these events into its existing infrastructure, leveraging its expertise in event management, digital platforms, and data analytics.

Informa’s Existing Portfolio and Growth Trajectory

Informa already owns an impressive array of industry-leading events, including:

The addition of Clarion’s events will create synergies in areas such as cross-selling sponsorship packages, shared digital platforms, and combined research capabilities. For example, ICE exhibitors may benefit from access to Informa’s financial services audience through Money20/20, while DSEI participants could tap into London Tech Week’s innovation network.

Leadership and Integration Timeline

Lisa Hannant to Remain at the Helm

Clarion’s Chief Executive Officer, Lisa Hannant, will retain her position and also join Informa’s executive leadership team. She is expected to play a key role in integrating Clarion into Informa’s wider operating business, ensuring continuity for staff, exhibitors, and event partners.

Post-Acquisition Roadmap

Informa has outlined a clear integration approach, consistent with its previous acquisitions:

This phased approach minimises disruption and allows the companies to align cultures and systems gradually.

Separation of Academic Markets Division

Simultaneously with the Clarion announcement, Informa revealed it is separating its Academic Markets business, centred on the Taylor & Francis publishing group. Taylor & Francis is a global publisher of academic journals, books, and research content.

This demerger reflects Informa’s strategic focus on B2B Live Events and Business Intelligence. By spinning off the academic division, Informa can streamline its operations and better allocate capital to its core growth areas. Stephen Carter noted: “Today’s announcements mark the latest step in a growth strategy that has seen B2B revenues grow tenfold since 2014, whilst generating more than $3 billion of value in Business Intelligence and lifting Taylor & Francis revenues fourfold since it joined the Group.”

What This Means for the Industry

For the gaming and casino sectors, the acquisition signals a shift in ownership of ICE and iGB Live from a specialist organiser (Clarion) to a global conglomerate (Informa). While the events will retain their brand identity, exhibitors and attendees can expect:

For other sectors like defence (DSEI) and consumer tech (IFA Berlin), the change may bring greater investment in marketing, attendee acquisition, and content quality.

Conclusion

Informa’s £2.24 billion acquisition of Clarion represents a transformative deal for the live events industry. By combining two powerful portfolios, Informa solidifies its position as the UK’s preeminent B2B events company, with annual revenues exceeding $6 billion. The integration of Clarion’s assets—including ICE, iGB Live, DSEI, IFA Berlin, and Distributec—will create new opportunities for cross-sector collaboration and growth. Meanwhile, the separation of the Academic Markets division allows Informa to sharpen its focus on high-margin event and intelligence businesses. The deal is expected to close by end of Q4 2026, with Lisa Hannant staying on to lead the integration.