Deal reunites Legal Week with former sister company and publisher of titles including The American Lawyer and Corporate Counsel
Legal Week has been acquired by ALM, the publisher of The American Lawyer, in a deal which reunites the title, owned by UK publisher Incisive Media, with its former sister company.
The move will enable Legal Week readers to benefit from the strength of ALM's expertise and reputation in the US legal market, while significantly boosting ALM's presence in Europe and Asia.
Combined, the titles will provide unrivalled coverage of the international commercial legal market through existing ALM titles including Law.com, The American Lawyer, Asian Lawyer, Corporate Counsel and The National Law Journal.
The deal also unites two leading legal event businesses. ALM holds more than 300 events a year over four continents including the Legaltech event, while Legal Week's events include the Legal Week Private Client Forum, Trust & Estates Litigation Forum, Strategic Technology Forum, the Corporate Counsel Forum series and The British Legal Awards.
The deal comes on the heels of ALM's acquisition of China Law & Practice from Euromoney in August 2015, and marks ALM's fourth deal since it was reacquired by former owner Wasserstein & Co in July 2014. ALM also acquired insurance and financial services focused Summit Professional Networks in January 2015 and Kennedy Consulting Research & Advisory in December 2014.
"This acquisition is an important next step as we expand our offerings into key international markets," said Bill Carter, CEO of ALM. "Legal Week has a strong audience base in Europe and Asia, and an impressive collection of industry events. It has also successfully transitioned to a business model primarily focused on digital content and services. These attributes make Legal Week an ideal addition to our platform."
Incisive CEO Tim Weller added: "I believe this combination is compelling, ensuring that Legal Week has the brightest possible future. So while I am sad to see the business go, given my involvement with Legal Week since its launch in 1999, I am confident the brand will thrive at ALM, which is a great international business that can offer the right level of investment and opportunity."
Macfarlanes advised Legal Week owner Incisive on the transaction, with ALM turning to Jones Day. Macfarlanes' team on the deal was led by senior counsel William David. London-based Jones Day corporate M&A partner Weyinmi Popo led the firm's team on the deal.
ALM was acquired by Incisive in 2007 but became an independent company again in 2009 due to a restructuring at then-Apax owned Incisive. ALM was repurchased by its former private equity owner Wasserstein & Co in 2014.
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