Canon Communications to be Sold to United Business Media
(Press Release) Los Angeles, CA (September 16, 2010) — Canon Communications LLC today announced that it has agreed to be acquired by United Business Media Limited, a leading global business media company. The agreement was arranged by Apprise Media, LLC, the management/investment company of Canon Chairman and CEO Charles G. McCurdy, and Spectrum Equity Investors, Apprise's private equity partner. Apprise and Spectrum acquired Canon in 2005.
"The last five years have seen strong growth at Canon across all categories, notwithstanding a difficult past two years for the B-to-B media industry as a whole," said McCurdy. "The outlook for Canon remains very promising. We have already laid the groundwork for significant continued growth in trade shows, digital media, and data products. Under UBM's ownership, Canon's businesses will continue to expand their global reach and ability to meet the information, events and data needs of advanced manufacturing and design engineering companies wherever and however they do business. Canon's audiences and marketing customers can expect to see ever more compelling offerings in this next phase of Canon's growth under UBM."
Under Apprise's stewardship over the past five years, Canon Communications dramatically increased its scope of products, services and delivery platforms supporting the advanced manufacturing and design sector. Canon now offers trade shows in eight countries around the world, up from two, as well as many more offerings around the United States. Digital and data comprise 40% of publishing revenues, up from 9%. On the data side, the Master Audience File has dramatically enhanced Canon's ability to target its markets in uniquely effective ways. In addition, Canon has built one of the most effective teams in the B-to-B media industry.
Canon Vice Chairman and COO Michael P. Behringer added, "Given UBM's size, resources and demonstrated ability to grow strong B-to-B media brands, on top of the continued growth of the advanced manufacturing and design segment worldwide, we believe that UBM can help accelerate Canon's success."