LONDON (ShareCast) - Wilmington Group said it was buying Compliance Week from Haymarket Media Group for 11.2m dollars.

The acquisition includes Compliance Week's trading assets and certain liabilities. Wilmginton will pay a further $3m subject to Compliance Week achieving profit growth targets in the year to June 30th 2015.

Boston-based Compliance Week, founded in 2002, is an information service on corporate governance, risk and compliance. It produces weekly electronic newsletters and a monthly print magazine. About half of its revenues come from subscriptions and a further 30% from annual conference and events.

Wilmington Chief Executive Charlie Brady said: “Compliance Week is a quality business that Wilmington has been watching closely for some time.”

He added: “Compliance Week has a very experienced management team who collectively bring a wealth of knowledge and experience in the GRC (governance, risk and compliance) market.”

Shares in Wilmington were flat at 190 3/4p at 09:46 on Friday.

TB

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