1st Mar 2011 07:02
1 March
2011
UBM acquires Indian travel tradeshow SATTE
Acquires the largest Indian travel and tourism tradeshow for UBM Asia
United Business Media Limited today announces that it has acquired SATTE, India's largest travel and tourism exhibition. UBM has acquired the event on behalf of UBM Asia from Cross Section Publications Pvt Ltd.
Launched 17 years ago, SATTE (www.satte.org) takes place each January in NewDelhi and is now India's largest travel and tourism event. The show performedstrongly in 2011 attracting approximately 600 exhibitors and 9,300 attendeesfrom more than 40 countries. SATTE has progressively expanded beyond itsoriginal focus on inbound travel to India and now also supports the outboundmarket. This reflects the rapid rise of domestic Indian spending oninternational travel. The 2011 edition of SATTE took place on 27 January.SATTE is supported by T3, the leading controlled circulation monthlypublication for the Indian travel indusry and which is an official publicationat many of India's travel industry events. T3 contributed around 15% of thebusiness's $1.6m revenues in 2010. Completion of the acquisition of T3 issubject to Indian regulatory approval. Approval is expected to be granted bythe end of April. As at 31 March 2010, SATTE's gross assets were £630,000.
Navin Berry, SATTE's founder, owner and publisher of Cross Section will remain with the business post-completion. In addition to Mr Berry, the business employs 12 staff in New Delhi, Mumbai and Bangalore.
The acquisition is anticipated to exceed UBM's cost of capital criterion in its first full year of ownership.
Jim© Essink, President & Chief Executive Officer of UBM Asia said:
"The acquisition of SATTE brings us a leading position in India'srapidly-growing travel and tourism industry and adds to our portfolio oftradeshows in India where we are already one of the country's largestcommercial event organisers. We are committed to continuing to invest in andexpand our business in India, leveraging UBM's existing worldwide interests inthe travel and aviation markets." - Ends - Contacts Media Peter Bancroft Director of Communications E-mail [email protected] Direct telephone +44 20 7921 5961 Chris Barrie Citigate Dewe Rogerson E-mail [email protected] Direct telephone +44 20 7282 2943 Mobile +44 796 872 72 89 Analysts/Investors Kate Postans Head of Investor Relations Email [email protected] Telephone +44 20 7921 5940 Notes to Editors1. UBMUBM focuses on two principal activities: worldwide information distribution,targeting and monitoring; and the development and monetisation of B2Bcommunities and markets. UBM's businesses inform markets and serve professionalcommercial communities - from doctors to game developers, from journalists tojewellery traders, from farmers to pharmacists - with integrated events,online, print and business information products. Our 5,900 staff in more than30 countries are organised into specialist teams that serve these communities,bringing buyers and sellers together, helping them to do business and theirmarkets to work effectively and efficiently.
For more information, go to www.ubm.com
2. UBM Asia
UBM Asia is the leading exhibition organiser in Asia, staging the leadingevents of their kind across the region. UBM Asia is the largest commercialexhibition organiser in China. In total, UBM Asia operates around 150tradeshows and conferences, 34 publications and 14 vertical portal websites in16 market sectors, serving more than a million exhibitors, visitors, conferencedelegates, advertisers and subscribers from all over the world. UBM Asia isheadquartered in Hong Kong and employs more than 800 staff at its offices andin its subsidiaries located across Asia, from Japan to Turkey.
For more information, go to www.ubmasia.com
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