Euromoney Institutional Investor plc (LSE:ERM) acquired 87.2% stake in TTI/Vanguard for $8.1 million on December 21, 2012. The remaining 12.8% equity holding will be acquired in two instalments of 7.4% in March 2014 based on a pre-determined multiple of the profits for the year to December 31 2013 and 5.4% in March 2015 based on a pre-determined multiple of the profits for the year to December 31 2014. Len Kleinrock, former Chairman of TTI/Vanguard, will remain a minority shareholder and will be actively involved in TTI/Vanguard until at least December 2014. The acquisition is expected to be earnings enhancing in its first year. Charles Palmer of FTI Consulting acted as public relation advisor for Euromoney Institutional Investor.

Euromoney Institutional Investor plc (LSE:ERM) completed the acquisition of 87.2% stake in TTI/Vanguard on December 21, 2012.