Progressive Digital Media Group PLC (AIM:PRO) agreed to acquire GlobalData Ltd. from Mike Danson and Wayne Lloyd for £69.9 million on December 23, 2015. As part of the consideration, Progressive Digital Media issues 26.08 million new ordinary shares. In a related transaction, Research Views Limited signed an agreement to acquire Progressive Trade Media Limited from Progressive Digital Media Group PLC (AIM:PRO) for £1 on December 23, 2015. On completion, Progressive will also be renamed GlobalData PLC. Wayne Lloyd, currently Chief Executive Officer of GlobalData, will join Progressive Digital Media Group's senior management team as managing director of Progressive Digital Media Group's US operations with specific responsibility for GlobalData's healthcare business. Bernard Cragg, currently the senior non-executive director of Progressive, will be appointed as chairman of Progressive, Michael Danson, currently executive chairman of Progressive, will be appointed as chief executive officer, taking over direct day-to-day management of the Group. Simon Pyper, currently chief executive officer of the Progressive, will be appointed chief financial officer of the Group.

The Board of Progressive has established the Independent Committee, chaired by Bernard Cragg, for the purposes of evaluating the merits of the proposals. The transaction is subject to the approval of the shareholders of Progressive Digital Media in a general meeting to be held on January 19, 2016. The independent board committee unanimously recommend the shareholders to vote in favour of the acquisition. On January 19, 2016, it was announced that all of the resolutions were passed unanimously on a show of hands at the general meeting. James Maxwell and Alex Wright of Nplus1 Singer Advisory LLP acted as financial advisor and Nick Lyon of Hudson Sandler acted as public relations advisor to Progressive Digital Media. Osborne Clarke LLP acted as the legal advisor for Progressive. Capita Asset Services acted as the registrar for progressive.