Following this transaction, UBM will own 100% of eMedia Asia.
The consideration for Global Sources’ 60.1% stake will be approximately USD $9.0m in cash, subject to adjustments for cash and working capital.
eMedia Asia is the majority owner of the annual China International Optoelectronic Expo (CIOE). Optoelectronics concerns the application of electronic devices that source, detect and control light, including gamma rays, X-rays, ultraviolet and infrared.
The business also owns a number of business-to-business media assets serving the electronics industry in Asia. These assets complement UBM’s existing electronics businesses and give UBM a global offering for the world’s electronics community, says the company.
Tim Cobbold, CEO of UBM plc, said: “We are delighted to bring eMedia Asia fully into the UBM stable. The China International Optoelectronic Expo runs annually in Shenzhen and is one of the top tradeshows in our Chinese portfolio. CIOE is a world-renowned event bringing the most advanced optoelectronics technologies and innovations to thousands of visitors. Established in 1999, it is now the largest show of its kind in the world. With a strong bond built over the years with companies and professionals in the field of optoelectronics, CIOE is set to deliver profitable growth in the years ahead.”
