100% ownership of the business adds attractive China International Optoelectronic Expo to UBM's portfolio of events in China
LONDON, July 1, 2015 /CNW/ - UBM plc (LSE: UBM) today announced that it has acquired Global Sources Ltd.'s 60.1% interest in eMedia Asia Limited ("eMedia Asia"). Following this transaction, UBM will own 100% of eMedia Asia.
The consideration for Global Sources' 60.1% stake will be approximately USD $9.0m in cash, subject to adjustments for cash and working capital.
eMedia Asia is the majority owner of the annual China International Optoelectronic Expo (CIOE). Optoelectronics concerns the application of electronic devices that source, detect and control light, including gamma rays, X-rays, ultraviolet and infrared.
The business also owns a number of business-to-business media assets serving the electronics industry in Asia. These assets complement UBM's existing electronics businesses and give UBM a global offering for the world's electronics community.
Tim Cobbold, CEO of UBM plc, said:
"We are delighted to bring eMedia Asia fully into the UBM stable. The China International Optoelectronic Expo runs annually in Shenzhen and is one of the top tradeshows in our Chinese portfolio. CIOE is a world-renowned event bringing the most advanced optoelectronics technologies and innovations to thousands of visitors. Established in 1999, it is now the largest show of its kind in the world. With a strong bond built over the years with companies and professionals in the field of optoelectronics, CIOE is set to deliver profitable growth in the years ahead."
Notes to Editors
1. About UBM plc
UBM plc is a leading global events-led marketing services and communications company. We help businesses do business, bringing the world's buyers and sellers together at events, online and in print. Our 5,000 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 300 events per year, UBM is the second largest exhibitions organiser globally and the biggest commercial organiser in the US, mainland China, India and Malaysia.
For more information, go to http://www.ubm.com; follow us on Twitter at @UBM_plc to get the latest UBM corporate news; follow@UBM for news and updates from across the businesses and selected members of UBM's Twitterati. http://media.ubm.com/social
2. About eMedia Asia
eMedia Asia provides 500,000-plus technology decision-makers throughout Asia and China with access to a multichannel media network. Through its technical events, publications and online network, eMedia Asia leads in providing the region's electronics community with the business and technical information they need to remain competitive.
3. About The China International Optoelectronic Expo (CIOE)
CIOE 2015 will be held at the Shenzhen Convention and Exhibition Center, 31 August to 3 September, with a total area of 110,000 square meters, comprised of four concurrent specialized expositions focusing on optical communications and sensors, lasers and infrared applications, precision optics, and LEDs.
More than 3,200 optoelectronic enterprises will exhibit their new products, while an extensive conference program will unveil the latest technologies and trends in optoelectronics.
4. About Global Sources
Global Sources is a leading business-to-business media company and a primary facilitator of trade with Greater China.
The core business facilitates trade between Asia and the world using English-language media such as online marketplaces (GlobalSources.com), print and digital magazines, sourcing research reports, private sourcing events, and trade shows.
More than 1 million international buyers, including 95 of the world's top 100 retailers, use these services to obtain product and company information to help them source more profitably from overseas supply markets. These services also provide suppliers with integrated marketing solutions to build corporate image, generate sales leads and win orders from buyers in more than 240 countries and territories.
Now in its fifth decade, Global Sources has been publicly listed on the NASDAQ since 2000.
SOURCE UBM plc
For further information: Contacts: UBM plc, Kate Postans, Head of Investor Relations, email@example.com, +44-207-921-5023; Brunswick, Craig Breheny, Imran Jina, firstname.lastname@example.org, +44-207-404-5959