UBM acquires majority economic interest of Shanghai International Franchise Exhibition

June 14, 2018 — Fusion DigiNet

UBM SinExpoUBM Sinoexpo, a subsidiary of UBM plc, has acquired a 70% economic interest in the Shanghai International Franchise Exhibition, organised by Shanghai Exhibition-Conference Ltd.

Established in 2005, the biannual SFE is one of the largest franchising events in China, hosting 221 exhibitors with over 450 brands and 50,261 visitors in the spring 2018 edition. SFE’s exhibitors are mainly in the food, beverage and retail sectors which is reflective of the trends in the Chinese franchise market today. Every year investors, potential franchisees, distributors, agents, dealers, and social organisations attend the two events in search of new, foreign, and commercially attractive franchise brands for the domestic market.

According to the China Chain Store & Franchise Association, China’s top franchises generates total sales of RMB 428 billion from 124,068 stores across the country. Currently, China has over 4,500 franchises and chain store companies creating more than 5 million jobs nationwide. Foreign franchise brands are becoming increasingly interested in 2nd and 3rd tier Chinese cities given favourable labour costs, reasonably priced real estate facilities, and untapped consumer spending.

Jime Essink, President and CEO of UBM Asia, said, “Our combination with SFE comes at an opportune time given our complimentary resources and shows in China. The Spring edition of SFE has already successfully co-located with our Hotel Plus event at SNIEC for two editions and we plan to co-locate SFE’s autumn edition with Food & Hotel China this November. The synergies and crossovers between professionals in the food, beverage, and retail sectors of these collocated events creates a complete and compelling industry value chain opportunity for visitors and exhibitors.”

The next edition of SFE will take place on 13-15 November 2018 at the Shanghai New International Expo Centre.

Shanghai

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Euromoney completes disposal of its Global Markets Intelligence Division (CEIC and EMIS)

May 1, 2018 — Fusion DigiNet

Euromoney plcEuromoney Institutional Investor PLC has completed the disposal of its Global Markets Intelligence Division, to a consortium of CITIC Capital Partners Management Limited, the private equity arm of CITIC Capital Holdings Limited, and Caixin Global Limited, for an equity value of $180.5 million.

Original reporting and further details here

UK, London & Hong Kong

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ITE sells metalworking exhibition Metaltech in Malaysia to UBM

April 24, 2018 — Fusion DigiNet

ITEITE Group plc has sold TradeLink ITE Sdn. Bhd., the owner of Metaltech, the metalworking exhibition in Malaysia, to UBMMG Holdings Sdn. Bhd., a subsidiary of UBM plc for a total cash on completion consideration of MYR 23 million (£4.2m).

In the year to 30 September 2017, Tradelink ITE had gross assets of MYR 29.4m (£5.4m), reported a turnover of MYR 12.4m (£2.3m) and, due to non-recurring costs, made a loss before tax of MYR 1.7m (£0.3m).

Mark Shashoua, CEO, ITE Group plc said: “For the Metaltech team, this represents a logical and exciting development – their new parent has an existing business in Malaysia and can ensure the investment and continued success of the exhibition. I would like to thank our team in Malaysia for their contribution to ITE over the years and wish them well for the future.”

ITE acquired TradeLink in 2013.

UK, London & Malaysia

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Euromoney to sell its Global Markets Intelligence Division (CEIC and EMIS)

February 12, 2018 — Fusion DigiNet

Euromoney plcEuromoney Institutional Investor PLC is to sell its Global Markets Intelligence Division, consisting of CEIC and EMIS, to a consortium of CITIC Capital Partners Management Limited, the private equity arm of CITIC Capital Holdings Limited, and Caixin Global Limited, for an equity value of $180.5 million.  The proceeds, net of transaction costs and tax, are expected to be approximately $145 million. They will be paid in cash on completion.

For the year ended 30 September 2017, GMID reported an operating profit of £11.9 million ($15.1 million). GMID’s gross assets at 30 September 2017 were £45.3 million. The sale is expected to complete by the end of April 2018.

Headquartered in Hong Kong, GMID is a leading provider of macro-economic, company and industry intelligence on emerging markets with a strong customer presence in China, India, Brazil and Central and Eastern Europe, as well as in developed markets.

Andrew Rashbass, CEO of Euromoney, said: “This transaction is another example of Euromoney’s strategy in action: where a good business is not strategic, we will sell it and recycle capital towards our main investment themes like price discovery, asset management and telecoms.  CITIC Capital and Caixin will provide an excellent home for the business, which Aloisio Parente and the whole team have done a fantastic job developing as part of Euromoney.  I am confident that the business will thrive under its new owners.”

citiccapitallogoYichen Zhang, Chairman and CEO of CITIC Capital, said: “We are very excited to make this investment in CEIC and EMIS, which are world-class platforms for macro-economic and business information. Together with Caixin, we look forward to working with the management team to continue growing the business and developing its global customer base.”

As previously reported, last November Citic teamed up with the Asia arm of Baring Private Equity to purchase the Wall Street English educational unit from Pearson Plc for $300 million.

CaixinShuli Hu, Publisher of Caixin Media, Chairwoman of Caixin Global, said:  “We are optimistic about GMID’s business and future.  Caixin will further leverage the rising global influence of China’s economy, and combine state-of-the-art technology with its authoritative information service and data offerings.  We will join forces together with GMID to provide indispensable data and insight for overseas and domestic financial industry professionals and stakeholders.”

UK, London & Hong Kong

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GroupM to acquire majority stake in The Glitch in India

February 12, 2018 — Fusion DigiNet

The GlitchWPP’s wholly-owned global media investment group, GroupM, is to acquire a majority stake in The Glitch, a digitally-led creative agency. The terms of the deal were not disclosed. 

The Glitch was founded in 2009 and employs around 200 people in Mumbai and Delhi. The Glitch’s full-service capabilities include digital, video and content strategy, interactive design technology, ecommerce, branding and media planning. Clients include Unilever, Netflix, OYO Rooms, Shutterstock, Tinder and others in the entertainment, beauty and FMCG sectors.

The Glitch’s revenues for the year ending 31 March 2017 were around INR 214 million with gross assets of around INR 175 million as at the same date.

The WPP group has invested in other digital content companies like All Def Digital, Fullscreen, Gimlet, Indigenous Media, Imagina (a content rights and media company based in Spain), MRC, Mic, Mitú, Refinery29, Uproxx Media Group and VICE. WPP’s roster of wholly owned digital agencies include AKQA, Blue State Digital, Essence, F.biz, Mirum, POSSIBLE, Triad Retail Media, VML and Wunderman.

UK, London & India, Mumbai & Delhi

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GroupM to acquire majority stake in The Glitch in India

February 12, 2018 — Fusion DigiNet

GroupMWPP‘s wholly-owned global media investment group, GroupM, is to acquire a majority stake in The Glitch, a digitally-led creative agency. The terms of the transaction were not disclosed.

The Glitch was founded in 2009 and employs around 200 people in Mumbai and Delhi. The Glitch’s full-service capabilities include digital, video and content strategy, interactive design technology, ecommerce, branding and media planning. Clients include Unilever, Netflix, OYO Rooms, Shutterstock, Tinder and others in the entertainment, beauty and FMCG sectors.

The Glitch’s revenues for the year ending 31 March 2017 were around INR 214 million with gross assets of around INR 175 million as at the same date.

C.V.L. Srinivas, country manager for WPP India and chief executive GroupM South Asia, said, “The communications ecosystem in India has evolved dramatically in the last few years and GroupM continues to lead the market in creating cutting-edge solutions that leverage data, technology and creativity. With The Glitch, we found a partner that brings exciting creative and content skills that can leverage our unique assets to create effective solutions for our clients.”

USA, New York, NY & India, Mumbai & Delhi

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Clarion Events completes merger with Global Sources

February 1, 2018 — Fusion DigiNet

ClarionLondon-based Clarion Events, one of the world’s leading independent events organisers, has completed a merger with Global Sources, a leading Asian exhibitions and online B2B marketplace operator based in Hong Kong. Funds managed by Blackstone will control the combined group. Terms of the transaction were not disclosed.

Combining both market-leaders will create one of the largest privately-owned exhibitions businesses globally, with substantial scale across Asia, Europe and North America, organising 200 events per year and generating more than £300m of Revenues. The combined group will be led by the existing Clarion management team under Chief Executive Officer Russell Wilcox and Chairman Simon Kimble. The new group will continue to operate under the name Clarion Events, with the Global Sources brand identity retained in the Asian region.

Commenting on the announcement, Russell Wilcox, CEO of Clarion Events, said: “This merger marks an important milestone for both companies as we embark on an exciting new chapter. With the support of Blackstone, the new Group is well positioned to take advantage of our combined scale and global platform. We look forward to working with the Global Sources management, and believe that the remarkable expertise and capability of the combined company offers a very strong opportunity for future growth.”

UK, London & Hong Kong

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The News Lens acquires tech news website Inside

January 3, 2018 — Fusion DigiNet

The News LensThe News Lens has acquired Inside, a tech-focused Chinese language news website, making TNL the first digital media startup in Taiwan to buy another one. The move will raise TNL to the top ranks of Asian digital news sources on technology. The terms of the transaction were not disclosed.

With Inside, TNL’s lifestyle sub-brand ELD and the original Chinese-language news site TNL, the TNL group now reaches close to 8 million unique visitors a month. From its offices in Taipei and Hong Kong, TNL produces three other digital editions – Hong Kong, Southeast Asia, and the English-language international edition.

TNL also welcomed a new angel investor, Felix Hong, manager of Nest (an Alphabet company) to the Taiwan office. Hong will serve as an adviser to TNL. With his extensive background in tech, the internet of things and the startup ecosystem within greater China, Hong will strengthen TNL’s presence in content distribution, international reach and content advisory. He will also help TNL to position and build Inside.

Joey Chung, TNL’s CEO and co-founder, said, “As we start our next stage strategy of gradually consolidating and introducing different verticals for our target audience with an eye on leveraging TNL’s existing sales, video, IT and international market presence, we are eager to broaden the content offerings and international audience reach of Inside, while using this initial integration experience as a template for acquiring or introducing future brands.”

Taiwan

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Ogilvy & Mather acquires a majority stake in digital consultancy ARBA in Hong Kong

December 18, 2017 — Fusion DigiNet

ogilvyWPP‘s wholly-owned marketing communications network, Ogilvy & Mather, has acquired a majority stake in ARBA, a digital consultancy. The terms of the deal were not disclosed.

Founded in Hong Kong in 2012, ARBA offers bespoke digital design and software engineering services with a focus on sales acceleration and customer experience. It specializes in digital strategy and has strong expertise in the financial services industry. With a staff strength of more than 40, ARBA clients include FWD, Prudential, Hang Seng Bank and other financial and insurance providers.

 ARBA’s revenues were around HKD 17.3 million, with net assets of around HKD 5.8 million for the year ending March 2017.

UK, London & Hong Kong

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India’s Times Internet acquires spiritual content app House of God

December 18, 2017 — Fusion DigiNet

Times Internet IndiaTimes Internet Ltd, a subsidiary of media house Bennett Coleman and Co. Ltd, has acquired the spiritual content app House of God, which is run by Innertech Media Solutions Pvt. Ltd. The terms of the transaction were not disclosed.

Innertech Media Solutions is a New Delhi-based startup, incorporated in 2017 and incubated at EROS Labs, which offers online religious media, product and services covering six different religions.

Gautam Sinha, CEO of Times Internet, said, “Our user base has continuously asked for innovative products and services in the religious and spiritual interest category. Consistent to our strategy of catering to a mobile-first audience base in India, the House of God acquisition will extend our leadership in spiritual content experiences”.

India, Gurgaon Haryana & New Delhi

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