15th October 2010
United Business Media (UMB) has agreed to acquire a 65 per cent stake in Rotaforte International Trade Fairs & Media from its private owner, it has been announced.
Rotaforte is the owner of Turkey's largest jewellery exhibition, the Istanbul Jewelry Show, an international event for jewellery, silver, watches and related equipment.
The show, which is currently taking place, attracts an average of 60,000 visitors and 1,600 exhibitors and occupies a net show floor space of more than 28,000 sq m.
Jime Essink, chief executive of UBM Asia, said: "The acquisition of Rotaforte adds a further industry-leading exhibition to our jewellery portfolio and is in line with our strategy to enhance and expand our international presence in geographic regions of significant growth."
Last month, UBM said it had reached an agreement to acquire Canon Communications LLC from Spectrum Equity Investors and Apprise Media LL for about £185 million, which would help make the company the leading worldwide provider of tradeshow and related media for the growing medical device design and manufacturing market.