China - UBM has acquired a 70 per cent interest in the China International Optoelectronic Expo from Business Media China AG.
Under a US$5m deal made on behalf of UBM Asia, the transaction will see the world’s largest optoelectronics event added to its portfolio, which also contains its own dedicated optoelectronics event, launched in 2006.
“The acquisition continues our strategy of focusing on sectors and markets with the most exciting growth potential,” says president and CEO of UBM Asia, Jime Essink.
“Since its launch in 1999, CIOE has become the world’s leading event for advanced optoelectronic technologies and innovations. CIOE’s local management team has done an excellent job to date and we look forward to working with them to further develop this leading show for the global optoelectronics industry,” he adds.
Established in 1999 and held annually in Shenzhen, China, the exhibition generated revenues of US$3.2m in 2008. UBM anticipates exceeding its eight per cent post-tax cost of capital criterion in its first full year of ownership.
