B2B media and events business Informa has agreed a takeover of Cannes Lions owner Ascential.

The cash deal values specialist events business Ascential, which also owns fintech conference brand Money 20/20, at £1.2bn.

The deal comes as Informa announced its half-year results, with underlying operating profit growth of 19% and adjusted operating profit up to £466.9m, revenue growth of 11% to £1.7bn and dividend growth of 10% to 6.4p per share.