Five divisions of Advanstar Communications will be acquired by a new company that includes former Advanstar executives, Questex Media Group Inc. said yesterday.
Questex signed a definitive agreement to buy Advanstar's technology, travel, portfolio, beauty and home entertainment groups, which encompass 23 trade publications, 50 Web sites, 21 exhibitions and 25 conferences. The divisions generated combined revenue of about $100 million in 2004.
Terms of the deal were not disclosed.
The new company will be based in Newton, MA, and have offices in North America, South America, Asia and Europe. Kerry C. Gumas, former vice president/general manager of Advanstar's technology group, is president/CEO of Questex.
Chantal Todé covers catalog and retail news and BTB marketing for DM News and DM News.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters