News this week: Earlier
this week, U.K.-based media group, UBM plc,
announced the company has received a binding offer from private equity firm Electra Partners LLP to
purchase UBM’s Data Services business portfolio for US$251 million. UBM was
advised by Credit Suisse on the transaction.
According to UBM, its data services segment also includes
health, technology and IP, trade & transport, and paper business units –
which generated revenue of US$298 million in 2011 and US$281 million in 2012.
David Levin, CEO of UBM, said, “This transaction is a
significant strategic step forward for UBM: by divesting Delta we simplify
UBM’s business, improve the quality of our earnings, enhance our underlying
growth rates and remove the challenges inherent in the continued transition to
digital data delivery. We can now look forward to focusing on further developing
UBM as a fast-growing and increasingly profitable events-led, marketing
services and communications business.”
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