UBM news releases
United Business Media acquires 70% interest in the CIOE tradeshow for $5m
Aug 27, 2009
United Business Media Limited today announces it has acquired a 70% interest in the China International Optoelectronic Expo (CIOE) from Business Media China AG, on behalf of UBM Asia (www.ubmasia.com) for a total cash consideration of $5m.
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 market, including laser and infrared applications, precision optics, optical communications and LEDs. This year’s event will be held 6th to 9th September and is expected to host over 2,000 exhibitors.
UBM Asia launched its first dedicated optoelectronics event in 2006 and the acquisition of CIOE further advances its presence in this market. Optoelectronics remains a significant focus for China’s national economic plan, which provides strong support for research and development in the industry.
In 2008, CIOE generated revenue of $3.2m. The acquisition is anticipated to exceed UBM’s 8% post-tax cost of capital criterion in its first full year of ownership.
Jime Essink, President & Chief Executive Officer of UBM Asia said:
"We are very pleased to have acquired a majority stake in the China International Optoelectronic Expo. The acquisition continues our strategy of focusing on sectors and markets with the most exciting growth potential. Since its launch in 1999, CIOE has become the world’s leading event for advanced optoelectronic technologies and innovations. CIOE’s local management team has done an excellent job to date and we look forward to working with them to further develop this leading show for the global optoelectronics industry."
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Notes to Editors
1. 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
2. About UBM Asia
UBM Asia is the leading organiser of exhibitions in Asia, and the biggest commercial exhibition organiser in the two fastest growing markets in Asia: China and India, with associated print and online media. Owned by United Business Media Limited which is listed on the London Stock Exchange, we organise the leading trade fairs in the industries we serve, provide high-quality business information through publications and extend the global reach of sellers and buyers through our B2B and industry-specific portal sites. With our headquarters in Hong Kong, we operate throughout Asia and the USA.