Daily Mail & General Trust, the publisher, today sought to bolster its business-information division through the acquisition of Genscape, an American company that supplies information to energy traders, for an initial $130 million (£73m) in cash.

The company may make additional payments for Genscape, which supplies data to customers including utility companies and hedge funds, of up to $66 million between 2008 and 2011, depending on financial performance.

DMGT is relying on the strength of its business-to-business operations, which account for 40 per cent of group profits, to offset sharp declines at its national newspapers, which include the Daily Mail.

Revenues at DMG Information, DMGT's business publishing arm to which Genscape will be added, rose by a fifth in January and Febuary, DMGT said last month.

That contrasted with a 9 per cent slump at the national titles, which were hit by a poor advertising market as marketing budgets migrated online.

"The acquisition is consistent with DMGI's strategy of investing in high growth businesses that offer mission critical information and analytics to niche markets. We expect the acquisition to be completed in mid-May," DMGT said today.

The deal is conditional on clearance by America's anti-trust authorities.

Genscape, which is based in Louisville, Kentucky, "has grown strongly since it started offering services in 2001 to international energy trading markets which have themselves expanded rapidly as a consequence of deregulation over the last several years," DMGT said.

The company has more than 130 customers, including utilities, investment banks, energy traders and hedge funds. It provides them with real-time information on energy generation and transmission, using proprietary technology to generate data about power plant usage and power supplies.

Last year, Genscape's revenues increased by 76 per cent to $13 million (£7m). The company had net assets of $11 million.

DMGT said it expected the acquisition to increase its earnings enhancing from the date of acquisition.

Shares in DMGT rose 2 per cent or 15p to 671.5p by midday, giving the company a market value of about £2.7 billion. Track the share price here.

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