UBM news releases
UBM transfers CIOE tradeshow into its eMedia joint venture with Global Sources
Dec 30, 2009
United Business Media Limited (UBM.L) today announces that it has completed the transfer of its 70% interest in the China International Optoelectronic Expo (CIOE) trade show to eMedia Asia Ltd, UBM's joint venture with Global Sources (NASDAQ: GSOL) in which UBM has a 40% interest and Global Sources has a 60% interest. UBM received a net cash consideration of $5 million from eMedia.
CIOE is the world's largest optoelectronics event. Established in 1999, it is held annually in Shenzhen, the centre of China's optoelectronics industry. The show covers all aspects of the optoelectronics market, including laser and infrared applications, precision optics, optical communications and LEDs. The 2009 event was held in September and attracted more than 2,000 exhibitors. United Business Media Limited acquired its 70% interest in the show in August 2009.
UBM and Global Sources established their eMedia Asia joint venture in 2000 to develop and market media products for the China electronic engineering community.
Jime Essink, President & Chief Executive Officer of UBM Asia, said:
"We are pleased to complete the transfer of our stake in CIOE to our eMedia joint venture with Global Sources. The show has performed well this year and we look forward to its continued successful development."
- Ends -
|Peter Bancroft||Director of Communications|
|Direct telephone||+44 20 7921 5961|
|Chris Barrie||Citigate Dewe Rogerson|
|Direct telephone||+44 20 7282 2943|
|Mobile||+44 796 872 72 89|
|Analysts / Investors|
|Direct telephone||+44 20 7921 5095|
|Andrew Crow||+44 20 7921 5940|
Notes to Editors
1. eMedia Asia Limited
eMedia Asia Limited is a joint venture between Global Sources (60%) and United Business Media's EETimes Group (40%).
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.
2. United Business Media
UBM focuses on two principal activities: worldwide information distribution, targeting and monitoring; and, the development and monetisation of B2B communities and markets. UBM's businesses inform markets and serve professional commercial communities - from doctors to game developers, from journalists to jewellery traders, from farmers to pharmacists – with integrated events, online, print and business information products. Our 6,400 staff in more than 30 countries are organised into specialist teams that serve these communities, bringing buyers and sellers together, helping them to do business and their markets to work effectively and efficiently.
For more information, go to www.ubm.com
3 Global Sources
Global Sources is a leading business-to-business media company and a primary facilitator of trade with Greater China. The core business uses English-language media to facilitate trade from Greater China to the world. The other business segment utilizes Chinese-language media to enable companies to sell to, and within Greater China.
The company provides sourcing information to volume buyers and integrated marketing services to suppliers. It helps a community of over 854,000 active buyers source more profitably from complex overseas supply markets. With the goal of providing the most effective ways possible to advertise, market and sell, Global Sources enables suppliers to sell to hard-to-reach buyers in over 240 countries.
The company offers the most extensive range of media and export marketing services in the industries it serves. It delivers information on 4.5 million products and more than 247,000 suppliers annually through 14 online marketplaces, 13 monthly magazines, over 100 sourcing research reports and 12 specialized trade shows which run 30 times a year across 10 cities.
Suppliers receive more than 96 million sales leads annually from buyers through Global Sources Online (http://www.globalsources.com) alone.
Global Sources has been facilitating global trade for 39 years. Global Sources' network covers more than 60 cities worldwide. In mainland China, Global Sources has about 2,500 team members in more than 40 locations, and a community of over 1 million registered online users and magazine readers for its Chinese-language media.