Global media giant United Business Media (UBM) has announced that CMP Information, UBM's UK-based business information division, has acquired Ithaca Holdings Limited from the company's management and NVM Private Equity for a total cash consideration of £14.25m.
Ithaca is a leading UK event marketing company which operates a portfolio comprising three established trade exhibitions - Internet World, Leisure Industry Week and Service Management Europe – and three other events - London Calling, Triple i and Saltex. CMPi has existing complementary businesses in the markets served by Ithaca's events.
Trevor Foley, Group Chief Executive of the Events Industry Alliance says:
"This is further evidence, if it’s needed, that live event marketing is one of the strongest media channels right now and a route to market of choice for more and more marketers. It follows emap’s £19m acquisition of Trades Exhibitions, Channel 4’s buy in to Taste Events and Ingenious Media Active Capital’s £7.2m investment in Brand Events earlier in the year. With face-to-face engagement, interactivity and customer experience topping the priority lists, astute marketers in greater numbers than ever, are turning to live event marketing to develop and cement brand loyalty.”
Gary Hughes, Chief Executive Officer of CMP Information says:
"I am pleased that we are expanding our UK event portfolio with the acquisition of Ithaca. This acquisition builds and broadens CMPi's media portfolio in a number of our existing B2B markets, adding a complementary event component to our offering in each of those B2B communities."
