Cannes Lions Festival owner Ascential has reached a deal to be acquired by UK company Informa for £1.2 billion (C$2.1 billion).

The move would add the conference to Informa’s portfolio of events, as well as other Ascential brands like the marketing intelligence company WARC and the Money 20/20 fintech events. Informa intends to make the Cannes Lions event the centrepiece of a new Informa Festivals business, with plans to expand Ascential brands into markets like Africa and the Middle East.

The UK company already owns international business events like the Fort Lauderdale International Boat Show, World of Concrete, China Beauty Expo, Arab Health, the Farm Progress Show and Natural Products Expo West.

The deal will see Informa pay Ascential shareholders roughly 568 pence per share.

Earlier this year, Ascential sold its digital commerce business Flywheel Digital in a deal with Omnicom.

“Our two divisions, Lions and Money20/20, have transformed how our customers around the world experience events, and benefit from both digital intelligence and advisory services. The value our businesses bring to their respective industries is clear as is the regard in which they are held by Informa,” Ascential chief executive Philip Thomas said in a news release about the deal.

“Informa is a highly respected business, famed for its expertise in B2B events, strong, ethical culture and commitment to innovation. This offer will not only deliver substantial value for our shareholders but also, together with Informa’s international footprint and extensive capabilities in data and analytics, will unlock further growth opportunities for our brands and our people.”

Informa says it expects “significant revenue opportunities” to come through cross selling and expansion into fast growth economies where Informa has an established position. The company also says it expects £12 million of annual cost savings and efficiency improvements by combining Ascential into Informa’s operating platform.