Informa to Acquire ICE Organiser Clarion Events in £2.24bn Deal

^{ExCeL London, a venue Informa uses for several of its B2B trade shows. (Photo: Mattbuck / Wikimedia Commons)}

Informa has agreed to buy Clarion Events, the London-based organiser of the ICE gaming trade show, in a deal worth £2.24 billion, placing one of the gambling industry's biggest annual gatherings under new corporate ownership.

The London-listed events and publishing group confirmed the acquisition alongside separate plans to spin off its academic publishing arm, Taylor & Francis, so it can focus fully on its B2B live events business.

What the Deal Means for ICE

Clarion runs more than 100 B2B event brands, but Informa's own announcement singled out gaming as one of three growth categories the acquisition gives it "immediate scale entry" into, alongside electronics and defence and security. ICE, which moved from London to Barcelona in 2023 and now runs each January, was named directly as the category's "global leader."

In the announcement, Group Chief Executive Stephen A. Carter said Informa was "accelerating the focus on our core B2B business" and described the combination as making Informa "the UK-listed, international leader in B2B Live Events," with combined annual group revenues exceeding $6 billion.

"The planned separation of Taylor & Francis coincides with further expansion in B2B through the £2.24bn acquisition of Clarion, the UK-based owner of more than 100 B2B Live Event brands."

For gambling operators and suppliers who use ICE to launch products and strike partnerships, the practical impact of a change in ultimate ownership is likely to be limited in the short term. Informa has said the acquisition is expected to deliver earnings growth from 2027, built on cost and revenue synergies rather than a restructuring of individual brands.

A Private Equity Exit for Blackstone

Clarion was being sold out of Blackstone's ownership. In its own statement announcing the deal, Clarion said the acquisition "brings together two highly complementary organisations with a shared commitment to growth, innovation and customer value," and framed the combination as a chance to "accelerate growth across the portfolio" and expand into new markets.

Informa's own announcement values Clarion at an enterprise value of £2.24 billion, equivalent to roughly 11.1 times its expected 2027 earnings before interest, tax, depreciation and amortisation, or closer to eight times once cost and revenue synergies are factored in.

The acquisition is still subject to the standard regulatory and completion conditions typical of a deal of this size, and Informa has not set out a timeline for when Clarion's events, including ICE, will formally transfer across. Industry attendees preparing for the next edition of the show are unlikely to see any visible change before then.

Part of a Bigger Restructuring at Informa

The Clarion deal is only half of what Informa announced. The group is also separating Taylor & Francis, its academic publishing division, into a standalone, UK-listed business, a move it said reflects differing growth profiles between academic publishing and live events.

Taken together, the two moves mark one of the more significant restructurings of Informa's portfolio in recent years, narrowing the group around B2B exhibitions and conferences at a time when organisers across the sector, including gaming-focused events like ICE, have been consolidating under a smaller number of larger owners.