HAARLEM, Netherlands, July 11 (UPI) -- VNU NV, the big Dutch media group, said Monday it was paying nearly $7 billion to buy IMS Health Inc. of Connecticut.
The definitive agreement calls for a cash-and-stock deal worth nearly $7 billion, officials of the two companies said.
VNU sells consumer, marketing and media information and analysis and owns publications like Billboard, the Hollywood Reporter, Computing and Intermediair. It also owns market data firm ACNielsen.
IMS Health, which offers consulting services for pharmaceutical and healthcare entities, tracks prescription drug sales for its clients.
"This merger of two industry leaders gives us the scale and capabilities to meet growing client demand for the must-have market intelligence that drives critical business decisions," said VNU chief executive Rob van den Bergh, who will be chief executive of the combined company.
The combined company's stock will trade on Euronext Amsterdam and the New York Stock Exchange, with a full listing of its American Depository Receipts on the NYSE at the time of closing.
