The News of a megadeal to combine two of the world’s largest exhibition companies broke out, much to surprise of everyone here in India. Board members of UK-based UBM, accepted an offer from Informa for a reported 3.8 billion pounds ($5.4 billion). The UBM board will recommend the transaction to its shareholders. If approved, both companies will move forward to create a giant B2B information services group.
“The Enlarged Group has the potential to deliver strong growth and significant value for shareholders,” said Stephen A. Carter, CEO of Informa in a statement. “This will ensure the Enlarged Group enters 2019 as a single business, with positive growth momentum and well-placed to deliver at least 60 million pounds ($85 million) of annual recurring operating synergies.”
Informa said Patrick Martell, CEO of Informa’s Business Intelligence Division, will additionally take over from Tim Cobbold as CEO of the UBM operating unit. It was also reported that the team will replicate the process and structure it adopted during the integration of Penton Information Services. Reporting directly to Carter, Martell will work closely with Charlie McCurdy, CEO of Informa’s Global Exhibitions Division, Andrew Mullins, CEO of Informa’s Knowledge & Networking Division, and senior operating management from UBM to develop the enlarged group’s operating model and management structure.
Cobbold, and UBM Chief Financial Officer Marina Wyatt will step down from their roles within one month of the effective date. Cobbold will be retained in an advisory capacity through to the end of 2018. The combination of Informa and UBM into the enlarged group will tie into Informa’s Growth Acceleration Plan and UBM’s Events First Strategy. The creation of the group bolsters the footprint of the two already major London-based players in the global trade show industry. Both companies have a sizable presence in the world market, including the U.S. where they organize such landmark shows as MAGIC, Licensing Expo, and World of Concrete. Talks to merge the two major players previously had been underway in 2008, but ultimately, an agreement was not reached.
UBM India is very aggressive in its outreach and UBM India is India’s leading exhibition organizer that provides the industry with platforms that bring together buyers and sellers from around the world, through a portfolio of exhibitions, content led conferences & seminars. UBM India hosts over 25 large scale exhibitions and 40 conferences across the country every year; thereby enabling trade across multiple industry verticals. A UBM Asia Company, UBM India has offices across Mumbai, New Delhi, Bangalore and Chennai. UBM Asia is owned by UBM plc which is listed on the London Stock Exchange. UBM plc has 3,750+ people, based in more than 20 countries, serve more than 50 different sectors – from fashion to pharmaceutical ingredients.
With over 200 trade and consumer exhibitions annually, Informa Exhibitions is a global market leader in such end markets as Boating, Beauty, Construction & Real Estate, Life Sciences, Maritime, Health & Nutrition, Agriculture and Pop Culture. Through face to face and digital channels, its transaction-oriented exhibitions enable communities to engage, experience and do business. In doing so, Informa brings together people who want to buy and sell, network, do business and gain inspiration. Informa Exhibitions is a division of Informa PLC, a leading business intelligence, academic publishing, knowledge and events business, creating unique content and connectivity for customers all over the world. Informa PLC is listed on the London Stock Exchange and is a member of the FTSE 100.
