Canon Communications LLC (www.cancom.com) announced today a definitive agreement to acquire four key media brands serving the advanced design engineering sector in the U.S., Asia, and Europe from Reed Business Information-US (www.reedbusiness.com/us), including Electronic Design News (EDN), Design News, Test & Measurement World, and Packaging Digest. These brands have robust digital and print offerings, and hold lead positions in their markets. This transaction will reinforce Canon’s leading position in the advanced manufacturing sector worldwide in exhibitions, publications, and digital media. Terms of the agreement were not disclosed.
JEGI CLARITY (www.jegiclarity.com), the leading independent investment bank for media, information, marketing services and related technologies, represented Reed Business Information-US in this transaction and acted as its exclusive financial advisor.
“This is a rare opportunity to expand our global reach across each of our product offerings in print, digital, events and information,” said Charles G. McCurdy, Chairman and CEO of Canon. “It also increases our ability to serve the needs of advanced manufacturers wherever they do business and positions Canon well for the future.”
“Canon’s acquisition of these advanced manufacturing media brands will bring several strong growth opportunities,” Mr. McCurdy added. “First, it balances our portfolio, bringing market breadth to our Publishing Division that’s comparable to the breadth of our Events Division; we now cover virtually the complete array of advanced manufacturing sectors across all media. Second, Canon’s overall scale and capabilities as a digital media provider is dramatically enhanced; digital and data revenue will now exceed 30% of Canon’s Publishing Division revenue and offer a broad array of products and services. Third, this acquisition establishes the Publishing Division’s operating presence in Asia to complement the Events Division’s existing presence in those markets; Canon now supports the advanced manufacturing sector on a truly global basis. Fourth, Canon’s Master Audience File of professionals in the manufacturing design and engineering sector will exceed one million unduplicated individuals; Canon’s global market reach in this sector is now unparalleled.”
Ron Wall, Executive Vice President of Canon’s Publishing Division, commented, “EDN, Design News, Test & Measurement World, and Packaging Digest are great brands with great talent. We have already begun work on integrating our new Asian assets and building more products for all Canon brands worldwide. We will also act quickly to integrate our Electronics brands with our Medical Device brands and Packaging Digest with our vertical Pharmaceutical and Medical Packaging News.”
Kevin O’Keefe, Executive Vice President of Canon’s Events Division, added, “The inclusion of these operations into Canon is very exciting. We’ll be able to accelerate the penetration of our trade shows in North America, Europe, and Asia given the incremental market access these brands provide. In fact, tying in with EDN, we are already developing medical electronics features alongside our medical manufacturing shows in Yokohama, Japan and Chicago later this year.”
The acquisition of the US assets was completed today, and the acquisition of the balance of the assets is expected to close in the near future after the completion of required legal processes.