Informa plc, the U.K.-based business information provider, agreed to buy Penton Information Services for 1.18 billion pounds ($1.6 billion) to add exhibitions and professional services in the U.S.

The company will fund the purchase through new debt and equity, according to a statement. The sellers, MidOcean Partners and Wasserstein & Co., will receive about 1.1 billion pounds in cash and 76 million pounds in Informa equity.

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