ITE to acquire Ascential Events in £300M deal

ITE GroupITE Group plc has released its interim results and proposed the acquisition of seven event brands from Ascential Events Ltd for £300 million.

The Ascential Exhibitions Business, which organises market-leading exhibitions that bring business communities together to connect and trade, includes two global industry-leading exhibitions brands, Bett and CWIEME, and a number of market-leading UK exhibitions brands such as the Spring and Autumn Fairs and Pure. In the financial year ended 31 December 2017, these brands generated revenues of £77.5 million and EBITDA of £24.0 million.

The move comes as ITE Group releases its interim results, showing the group’s revenues grew at eight per cent on a like-for-like basis, driven by its Transformation and Growth (TAG) programme. For the six months to 31 March 2018 revenue for the group was £75.4m.

Mark Shashoua, CEO of ITE Group plc, said, “These events are well known to us, the acquisition is in line with our product-led acquisition strategy and gives us the benefit of a more balanced portfolio by geography and product. It also adds two more global brands in BETT and CWIEME and is expected to be earnings enhancing in 2019, our first full financial year of ownership. The combination of good progress on TAG and the proposed acquisition of Ascential Events Limited represent the significant steps for ITE in realising its vision of creating the world’s leading portfolio of content-driven, must-attend events that deliver an outstanding experience and ROI for our customers.”

UK, London

Related articles:

Clarion Events completes merger with Global Sources

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

Related articles:

CloserStill acquires Online Educa Berlin

CloserStillCloserStill Media is to acquire Online Educa Berlin, a cross-sector conference on technology-

supported learning and training, from ICWE GMbH for an undisclosed sum. The terms of the deal were not disclosed.

Founded in Berlin, Germany in 1995, OEB is an annual international conference on technology-supported learning and training (e-learning), welcoming over 2,000 delegates from across the corporate, education and public sectors, and including an exhibition featuring more than 80 international Edtech companies and institutions.

The acquisition will complement CloserStill’s existing event brand, Learning Technologies, which has events in Paris and London.

Commenting on the acquisition and the launch plans for Learning Technologies Germany in 2018 alongside OEB, CloserStill’s learning group director, Mark Penton, said: “We are genuinely excited to bring the highly respected OEB event into our family of market-leading events and to work with its founder Rebecca Stromeyer.

“We see a significant opportunity to evolve OEB into one of Europe’s most important learning events with the introduction of our Learning Technologies brand into the heart of the European marketplace.”

Germany, Berlin, UK, London

Related articles:

Mood Media Announces Acquisition of Technomedia Solutions

moodmedia-purpleMood Media Corporation has acquired the assets of Technomedia Solutions and its sister company GoConvergence for approximately $23 million in cash. In addition to the $23 million purchase price is a contingent consideration payable in 2014 dependant on the profitable growth of operations.

Technomedia Solutions and GoConvergence create and deliver media and technology for a range of projects including displays, kiosks and interactive content for multiple industries such as retail, hospitality, theme parks, performing arts, museums, special venue, education among others. The firm, formed in 2001, operates a turn-key model and has clients including Abercrombie & Fitch, Hard Rock Café International, Cirque du Soleil, Wanda Group as well as other global entertainment and education clients.  In 2012, Technomedia is expected to generate annual revenues of US$43 million and EBITDA of US$5.7 million.

“The transaction will be immediately accretive to Mood Media’s shareholders while accelerating the growth profile and competitive positioning of the combined businesses. We are excited about the opportunity ahead and look forward to utilising our combined strengths to build on what Technomedia has established in concert with Mood’s initiatives to help our customers achieve their goals,” stated Lorne Abony , Chairman and CEO of Mood Media.

CA, Concord, ON & USA, Orlando, FL