UBM has sold off more of its media properties amid its push to focus on the events business, the company announced today. Arrow Electronics, Inc. has acquired the company’s electronics media portfolio, which includes the brands EE Times, EDN, ESM, Embedded, EBN, TechOnline and DataSheets.com, for $23.5 million.
The sale is the latest development in UBM’s “events-first” business strategy, under which the company has divested several of its media brands in order to buy up more conference and trade show properties.
UBM reports that its electronics portfolio generated revenues of between $16 and $19 million online and around $3 million in print last year. The deal is still subject to regulatory approval in China.
It had been speculated that Arrow Electronics might emerge as a suitor for UBM’s electronics media brands ever since Arrow purchased United Technical Publications from Hearst Business Media early last year.
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