UBM plc (LSE: UBM-LN) today announces that it has reached agreement to divest its electronics media portfolio to an affiliate of Arrow Electronics Inc. for a cash consideration of $23.5m.
The portfolio comprises the US and Asian versions of EE Times, EDN, ESM, Embedded, EBN, TechOnline and Datasheets.com. In 2015 these assets generated revenues of $19m – $16m online and $3m print. The sale is subject to customary closing conditions and regulatory clearance in China.
Tim Cobbold, CEO of UBM plc, said:
“In line with our ‘Events First’ strategy this transaction further improves the alignment between our portfolio of Events and Other Marketing Services.”
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