Penton, a leading strategic information and marketing solutions company, announced today that it has completed its acquisition of Aviation Week, the leading brand in global aviation information, including its events, data, digital and media products from McGraw Hill Financial (NYSE: MHFI). Aviation Week, together with Penton’s Aviation Group, establishes the largest and most powerful targeted marketing platform for companies and executives in the dynamic and growing global aviation industry.
“We are pleased to have completed the acquisition of Aviation Week from McGraw Hill Financial” said David Kieselstein, CEO of Penton. “Since announcing the deal last week, we have been meeting with the Aviation Week team and are really impressed with the assets and opportunities that exist in bringing their business together with Penton’s Aviation Group. In addition, we have been talking to our partners in the aviation industry and the reaction has been very positive. This is a dynamic and growing industry that values the content, information, data, technology and events provided by Aviation Week and Penton’s Aviation Group and they recognize the additional value we can provide working together and investing to enhance existing services and develop new offerings.”
Penton Aviation and Aviation Week have established highly valued content platforms, leading events, research and information resources and analytical tools that serve the global commercial, defense, MRO, space and business aviation communities.
Aviation Week serves over 1.2 million professionals in 185 countries with its flagship media, online, live events and information technology and research assets, including Aviation Week & Space Technology and its MRO and Defense Technology editions, Business & Commercial Aviation and AWIN. Penton Aviation owns and operates leading brands in business and commercial aviation including Air Transport World, SpeedNews, Aircraft Bluebook, Air Charter Guide, Airportdata.com and Ac-U-KWIK. Aviation Week expands Penton’s transportation assets which include Wards, Fleet Owner and Penton Aviation.
The Penton Aviation Group has 143 employees around the world including in New York; Washington, D.C.; Kansas; California; Massachusetts; England; France; Germany and China.
Aviation Week marks Penton’s third major strategic acquisition since late 2010, and follows the highly successful integrations of Farm Progress and Nation’s Restaurant News. Penton has utilized both targeted strategic acquisitions and organic growth through innovative new product launches to drive its transformation. The acquisition of Aviation Week meets Penton’s three key filters for capital allocation including: industry sectors with strong projected secular growth; combining existing and acquired assets to create or extend a clear market leadership position; and assets where Penton can unlock additional growth via its five digital growth initiatives, including user workflow, digital community, insights, virtual education, and its events “365” model.
For the full story click Penton
For the original announcement click Aviation Week