News this week: London-listed B2B media group, Tarsus, agreed to acquire 70% of Turkish exhibition organiser Lifemedia Fuarcilik A.S. (Life Media) for an initial consideration of £10.6 million. Tarsus estimates deferred payments of approximately £5 million will be due in 2013, bringing the estimated total payment to approximately £15 million.
Established in 1997, Life Media mainly focuses on the housewares and gifts sector. The company is the owner and organiser of Istanbul-based trade fairs Zuchex and Ideal Home Fair, as well as publisher of the related trade journals. Life Media’s founder Irfan Tiras will stay on board and continue to manage the business.
The deal is part of Tarsus’ 50/13 strategy which aims to increase Tarsus’ revenues from fast growing emerging markets to 50% by 2013. The acquisition of Life Media brings Tarsus’ revenues from emerging markets to 43% of the company’s total revenues.
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