UBM announces trade show acquisitions in Asia
February 28, 2012, 12:16 pm EDT
London—UBM, which has pursued a consistent strategy of event acquisitions over the past several years, has acquired four trade shows based in Asia. The total value of the deals was $30.8 million in cash plus potential earn-outs of $7.0 million.
The trade shows acquired by UBM are the Malaysian International Furniture Fair, the China International Exhibition & Symposium on Dental Equipment (known as DenTech China), Technology & Products, Renewable Energy India Expo and Airport Cities Exhibition & Conference.
UBM acquired a 70% equity stake in Shanghai UBM ShowStar Exhibition Co., a newly formed joint venture which owns DenTech China. UBM acquired the other shows outright.
“These acquisitions build on our well-established strategy of acquiring strong events that serve structurally growing markets and communities, and particularly events which operate in growth economies,” said David Levin, UBM CEO, in a statement.