Reed acquires Ascend
Reed Elsevier, the publisher of Flight, Airline Business, Commercial Aviation Online, Air Transport Intelligence and ACAS, has acquired Ascend the leading data, valuations and consultancy business.
The publishing company is acquiring it from Lloyds Development Capital, the private equity division of Lloyds Bank.
LDC funded the management buy out of Airclaims, a company focusing on data, valuations, loss-adjusting and a range of aviation consultancy, with £10 million in 2005. It created Ascend so it could split the data and values business – which would be more attractive to publishing companies looking to acquire data businesses – from the loss-adjusting and technical inspection business. In 2010 LDC increased its stake in Ascend to £12 million (effectively doubling what it had invested in the data business originally).
The terms of Reed’s acquisition have not been agreed.
Reed says Ascend will be integrated with the aerospace information and data service activities provided by Flightglobal.