3rd Jun 2016 07:00
UBM PLC - UBM divests electronics media portfolioUBM PLC - UBM divests electronics media portfolio
PR Newswire
London, June 2
3 June 2016
UBM divests electronics media portfolio
UBM plc (LSE: UBM-LN) today announces that it has reached agreement to divest its electronics media portfolio to an affiliate of Arrow Electronics Inc. for a cash consideration of $23.5m.
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 $19m – $16m online and $3m 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.”
– Ends –
Contacts
| Kate Postans | Head of Investor Relations and Corporate Communications, UBM plc | [email protected] | +44 207 921 5023 |
| Meredith Corley | Head of PR and Communications, UBM Americas | [email protected] | +1 (703) 853-8977 |
| Jon Coles, Andy Rivett-Carnac, Craig Breheny | [email protected] | +44 207 404 5959 | |
Notes to Editors
About UBM plc
UBM plc is a leading global marketing services and communications company, whose primary focus is events. We help businesses do business, bringing the world’s buyers and sellers together at events, online and in print. Our 5,100 staff in more than 20 countries are organised into specialist teams which serve commercial and professional communities, helping them to do business and their markets to work effectively and efficiently. Running over 400 events per year, UBM is the second largest exhibitions organiser globally and the largest independent organiser in the US and China.
For more information, go to www.ubm.com; for UBM corporate news, follow us on Twitter at @UBM_plc and go to http://media.ubm.com/social for more UBM social media options.
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