M&A Update: New Name, Leader Chosen for Prism/Penton Merger
INBOX’s “M&A Update” is a new feature that will offer continuous updates on notable merger-and-acquisition activity in the industry.
John French Named CEO of Newly Named Penton Media Brand
A new name and leader have been chosen for the highly publicized Prism/Penton merger. John French, who served as CEO of Prism Business Media since the company’s formation in 2005, will become the new CEO of the newly named Penton Media.
“We are extremely pleased that John will be leading the management team for one of the most powerful portfolios of business media brands ever assembled,” said Anup Bagaria, VP of Wasserstein & Co., the investment firm backing Prism.
“Penton is one of the most recognized and valued brands in business-to-business media, with roots that reach back more than 100 years,” French said. “We now have the opportunity to create an exciting new future for our customers, our employees and our properties under the Penton banner.”
David B. Nussbaum, the current CEO of Penton Media, will leave the company following completion of the acquisition, anticipated to be final sometime during the first half of 2007, to pursue other business interests.
Reed Exhibitions Sells Canadian Manufacturing and Industrial Tradeshow Portfolio
Reed Exhibitions sold its Canadian industrial and manufacturing tradeshow portfolio to the Society of Manufacturing Engineers (SME) and Vance Publishing this week. “We are pleased to turn over the Canadian manufacturing and industrial events to the SME and Vance Publishing, as we continue to invest in and grow other areas of our Canadian business,” said Chet Burchett, president of Reed Exhibitions, Americas.
With the transaction, Reed has completed the alignment of its business in North America and will now continue its focus in the areas of hearth and home, security, luxury/lifestyle and life science/healthcare.
Reed Business Information Acquiring BuyerZone
Reed Business Information (RBI), part of Reed Elsevier, will acquire BuyerZone.com, an online lead generation company. “We are pleased to acquire BuyerZone, a company with a strong track record in search engine marketing and lead generation, as a cornerstone of our online growth strategy,” Tad Smith, CEO of RBI, said.
Buyer Zone is a leading online b-to-b marketplace that links prospective buyers to qualified suppliers of more than 125 business product and service categories. The acquisition is expected to accelerate online growth for RBI. The closing is slated to occur on or about Jan. 1, 2007, after the requisite regulatory approval is obtained.