3rd Jun 2016 06:15
LONDON (Alliance News) - Events company UBM PLC on Friday said it has struck a USD23.5 million deal to sell its electronics media portfolio to an affiliate of Arrow Electronics Inc, a US electronic components and computer products company.
The portfolio includes the US and Asian version of EE Times, EDN, ESM, Embedded, EBN, TechOnline and DataSheets.com, UBM said.
The sale will be subject to normal closing conditions plus regulatory clearance in China.
"In line with our 'Events First' strategy this transaction further improves the alignment between our portfolio of Events and Other Marketing Services," said UBM Chief Executive Tim Cobbold.
Also in line with that push to focus on its events business, UBM on Wednesday had said it agreed to acquire Content Marketing Institute for USD17.6 million in cash. Content Marketing Institute produces Content Marketing World, a content marketing sector event which runs in September at the Cleveland Convention Center in the US state of Ohio.
By Sam Unsted; [email protected]; @SamUAtAlliance
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