UBM acquires Global Sources stake in eMedia Asia
HONG KONG – July 1, 2015 — Global Sources Ltd has sold its 60.1 percent interest in its eMedia Asia Limited subsidiary to UBM plc, the 39.9 percent shareholder, for approximately US$9.0 million in cash subject to adjustments for cash and working capital.
eMedia’s business includes the China International Optoelectronic Expo (CIOE) and print and online publications serving Asia’s electronics community, namely various Asian editions of EE Times, Electronics Supply & Manufacturing and EDN.
Global Sources’ executive chairman, Merle A. Hinrich, said: “The sale of eMedia is consistent with our strategy to focus on our strong core business of cross border B2B trade and address the markets we believe offer the greatest opportunity for growth. By divesting this subsidiary, we are redirecting resources to enhance our multi-channel platform and improve the services we provide to both our buyer and supplier communities.”