In an RNS on Friday UBM announced that it has completed the US$972 million (£599 million) acquisition of Advanstar Communications, a leading US events and marketing services business serving business professionals and consumers in the fashion, licensing, life sciences and powersports industries.
Advanstar is one of the largest tradeshow businesses in the US, operating 54 tradeshows and approximately 100 conferences. Advanstar also produces 30 publications as well as 194 websites and other digital products.
The acquisition makes UBM (by 2013 revenue) the leading events business in the US, which is the biggest events market in the world, and also adds five events which rank among UBM’s 2013 Top 20 by revenue. All 54 of Advanstar’s tradeshows would rank among UBM’s 2013 top 100 events; UBM’s top 100 shows by revenue generated more than 96% of UBM’s Events EBITA in 2013. The addition of Advanstar’s US events complements UBM’s emerging markets event portfolio and aligns UBM’s Events business with the global events market.
The RNS further stated: The acquisition of Advanstar progresses UBM’s implementation of its `Events First’ strategy, announced by UBM’s CEO Tim Cobbold on 3 November 2014. UBM’s `Events First’ strategy aims to drive profitable growth by focusing on the larger and more profitable tradeshows, increasing efficiency and effectiveness through the use of standardised systems and driving operational excellence.