UBM plc has sold its electronics media portfolio to the distributor Arrow Electronics Inc. for $23.5 million in cash.
The portfolio comprises the US and Asian versions of EE Times, EDN, ESM, Embedded, EBN, TechOnline and Datasheets.com. In 2015 these assets generated revenues of $19 million. $16 million from online and $3 million from print. The sale is subject to customary closing conditions and regulatory clearance in China.
Tim Cobbold, CEO of UBM plc, said: “In line with our ‘Events First’ strategy this transaction further improves the alignment between our portfolio of Events and Other Marketing Services.”
UK, London & USA, New York, NY
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