United Business Media plc (www.unitedbusinessmedia.com) today announced that it has acquired Think Service, Inc. (www.thinkhdi.com) on behalf of CMP Technology (www.cmp.com). UBM has acquired Think Service from its founder-owners for an initial cash consideration of $24.5 million, with a further performance-related consideration of up to $5 million, payable over the next 12 months.
JEGI CLARITY (www.jegiclarity.com), a New York-based independent investment bank that specializes in media and information, represented Think Service in this transaction and acted as its exclusive financial advisor.
Headquartered in Colorado Springs, CO, Think Service is a membership, certification and training, and events organization focused on IT service and support practitioners. It is the U.S. market leader in the provision of training and information to service desk employees, also known as help desk employees. With 38 full-time employees, TSI operates the oldest and largest association for IT support personnel in the world, serving more than 7,500 members. TSI also organizes an annual Conference & Expo that attracts over 2,000 attendees and is recognized as the industry’s leading event for IT support professionals.
TSI is a highly complementary addition to CMP Technology’s existing International Customer Management Institute (ICMI) business which focuses on call center consulting, membership, certification and training, and events. ICMI was acquired in 2005 to complement CMP’s existing leadership position in call center events and marketing services. UBM has continued to build its customer management and call center business worldwide, with interests now extending across the U.S., UK, Europe, Singapore, Hong Kong, Philippines, Thailand and Japan.
David Levin, Chief Executive Officer of United Business Media, said, “Think Service is a business with strong revenue and profit growth potential, both in the U.S. and worldwide and is a great fit with CMP Technology’s existing ICMI business. The acquisition of TSI is another step in the continuing development of CMP’s global exhibition, training and consulting business serving the worldwide professional IT support market, an attractive and growing market.”