Progressive Digital Media Group Plc announced that the company has conditionally agreed to acquire the entire issued share capital of GlobalData Holding Limited in consideration for the issue by the company of an aggregate 26,078,431 new ordinary shares. On Completion, the following changes to the Board and senior management team of the Group will take effect: Bernard Cragg, currently the senior non-executive director of the company, will be appointed as chairman of the company; Michael Danson, currently executive chairman of the company, will be appointed as chief executive officer, taking over direct day-to-day management of the Group; and Simon Pyper, currently chief executive officer of the company, will be appointed chief financial officer of the Group. Changes to the chairman of the company's audit and remuneration committees will be announced at a later date.

Wayne Lloyd, currently chief executive officer of GlobalData, will join the Group's senior management team as managing director of the Group's US operations with specific responsibility for GlobalData's healthcare business.