PA Group Reaches Agreement to Sell MeteoGroup to General Atlantic

London (ots/PRNewswire) -

PA Group, the parent company of the Press Association (PA), has
signed an agreement to sell its weather business MeteoGroup to global
growth investment firm General Atlantic.

MeteoGroup, Europe's largest private sector weather business,
provides weather services for corporate, industrial, media and
consumer markets including key sectors such as transport, marine and
energy.

Since PA's acquisition of MeteoGroup in 2005, the business has
enjoyed consistent double digit growth in both revenue and profit and
has more than doubled in size, employing almost 400 people in 14
countries.

Clive Marshall, PA Group's Chief Executive, said: "The sale of
MeteoGroup will provide the capital to enable us to continue to
invest in and diversify the Press Association business, as well as
address our pension fund deficit.

"This sale, which follows the divestment of our interest in Canada
Newswire in 2012, is part of the company's strategy to focus our
activities on the Press Association news and information business;
develop new products and services for both media and non-media
customers; and seek strategic acquisitions that help diversify the
revenue and profits of the company.

"Our recent investments in Globelynx and Sticky Content -
companies that provide services to both the media and corporate
markets - are key elements in our diversification strategy.

"Under the ownership of General Atlantic, MeteoGroup will have
access to the skills, expertise and capital that will enable them to
become a truly global force in the provision of weather services."

John Bernstein, Managing Director at General Atlantic, said:
"MeteoGroup is another example of a fast growth European business
with global reach, creating innovative new products and services in
the weather data and forecasting industry.

"MeteoGroup combines world-leading forecasting technology and
products with a highly talented international management team. We are
impressed with the achievements of the business and are excited to
contribute our strategic support and long-term partnership approach
to further MeteoGroup's development and global expansion."

The transaction is subject to regulatory approval.

PA Group was advised on the deal by Portico Capital Securities
Limited and Taylor Wessing LLP.

PA Group Limited

Headquartered in London, PA Group
[http://www.pressassociation.com/Aboutus/CorporateInformation/PAGroup
] is a news, information and communications business which includes
the Press Association - the national news agency of the UK and
Ireland.

PA Group has 27 shareholders, most of whom are UK national and
regional newspaper publishers. The biggest shareholders are dmg media
Limited, News UK plc, Trinity Mirror plc and United Business Media
plc.

About MeteoGroup

MeteoGroup is Europe's largest private sector weather business.
MeteoGroup has a worldwide customer base and operations across
Europe, in Southeast Asia and the USA.

MeteoGroup is a full-service weather business supplying tailored
products to corporate, industrial, media and consumer markets.
Founded in 1986, the company has an unrivalled reputation for quality
and innovation in weather forecasting. Expert meteorologists provide
forecasts, support, monitoring and consultancy services 24 hours a
day, 365 days a year. In addition, a dedicated weather modelling team
continuously develop MeteoGroup's in-house systems and forecasting
techniques.

Offices are located in Belgium, France, Germany, Ireland, Italy,
the Netherlands, the Philippines, Poland, Singapore, Spain, Sweden,
Switzerland the UK and the USA.

About General Atlantic

General Atlantic is a leading global growth equity firm providing
capital and strategic support for growth companies. GA combines a
collaborative global approach, sector specific expertise, long-term
investment horizon and a deep understanding of growth drivers to
partner with great management and build exceptional businesses
worldwide.

Established in 1980, GA manages $18 billion in capital under
management (comprised of total committed capital and portfolio
investments) and has more than 80 investment professionals based in
Greenwich, New York, Palo Alto, Sao Paulo, Amsterdam, London, Munich,
Beijing, Hong Kong, Mumbai and Singapore. For further information and
a listing of GA's public and private portfolio companies see
http://www.generalatlantic.com.

Contact:
Sean Ottley, Communications Manager
sean.ottley@pressassociation.com
+44(0)20-7963-7513

ots Originaltext: PA Group
Im Internet recherchierbar: http://www.presseportal.de