DLJ Closes Advanstar Sale

Share this article:
DLJ Merchant Banking Partners has purchased Advanstar Inc., Boston, and its subsidiaries Advanstar Communications Inc., and Hive4.com for $900 million in cash and securities, the companies reported yesterday. The deal was originally announced in Aug. DLJ Merchant Banking Partners is an affiliate of New York-based Donaldson, Lufkin & Jenrette.


"This was a very good buy, and the price is fair," said Roland DeSilva, of investment banking firm DeSilva & Phillips in an earlier statement. "The strength that DLJ brings to Advanstar is spectacular. They have the ability to take the company public and make them into a powerful and aggressive acquirer. If they chose not to go public they are nevertheless a very powerful player."


Advanstar Inc., through its subsidiary Advanstar Communications Inc., publishes 103 business magazines and directories, produces more than 100 exhibitions and conferences, and maintains 79 Web sites. It also provides direct mail and other marketing services to 19 industries, including fashion and apparel, travel and hospitality, specialty retail, healthcare, pharmaceutical, science, information technology, and manufacturing and processing.


The company recently launched subsidiary Hive4.com, a company aimed at leveraging Internet properties and launching future web communities.
Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Data/Analytics

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Data/Analytics

MeritDirect Opens San Jose Office

MeritDirect Opens San Jose Office

A force in direct mail, the company looks to expand its digital data services with a footprint in Silicon Valley.

Neustar Decides to Hand Data Over to its Clients

Neustar Decides to Hand Data Over to its ...

AK Media Insights Pro turns data over to marketers to create business-specific aggregations, integrate offline efforts, and probe deeper into their sales funnels.

Arthur Hughes, Who Wrote the Book on Database Marketing, Dies at 86

Arthur Hughes, Who Wrote the Book on Database ...

First published in the early days of the Web, Arthur Middleton Hughes's Strategic Database Marketing remains a bible for direct marketers.