Veronis Suhler Stevenson (VSS) has joined forces with Citigroup Private Equity and New York Life Capital Partners to acquire B2B publisher Advanstar Communications for USD1.1 billion. Advanstar runs 87 trade shows and events, publishes 58 publications and directories, 125 electronic publications and web sites. It focuses on fashion, licensing, life sciences and automotive verticals. It is the objective of the acquirers to Grow Premier Worldwide Business Media Platform Through New Products, Services and Acquisitions. Advanstar 2006 revenues were US$ 324 million – valued at 3.5 time revenue or 12.15 times EBITDA compared to 12.6 times VNU received for Valcon. Source: Press Release www.vss.com
About The Author
Joachim C Bartels is a co-founder, managing director and Editor-in-Chief of BIIA. In his capacity as Editor-in-Chief he is responsible for the selection of relevant information content concerning industry insights, trends, technological developments, standards and policies impacting BIIA members in particular and the business information industry in general.
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