Investcorp sells SourceMedia to Observer Capital
Investcorp, an alternative investment manager listed on the Bahrain Bourse, said that it has sold SourceMedia, a business-to-business media company, to private equity firm Observer Capital. Terms of the transaction were not disclosed, according to Gulf Daily News. Investcorp originally acquired , inclusive of its Accuity affiliate, from the Thomson Corporation in 2004. Through Investcorp’s stewardship, SourceMedia made significant investments and changes to the business that advanced its digital-first strategy, significantly diversifying its revenue mix to incorporate digital media, marketing services, events and new categories such as research. In addition, Investcorp spun out Accuity, and worked with its management to position the business as the leading US provider of payment efficiency and risk reduction solutions for global financial institutions.