UBM to sell Data Services business
UBM, parent company of Air Cargo World and OAG and OAG Cargo, has announced that private equity firm Electra Partners has made an offer to purchase UBM’s Data Services businesses for £160 million ($250.5 million). The transaction includes the bulk of UBM’s Data Services segment and includes its Health, Technology, IP, Trade & Transport, and Paper business units.
“This transaction is a significant strategic step forward for UBM: by divesting we simplify UBM’s business, improve the quality of our earnings, enhance our underlying growth rates and remove the challenges inherent in the continued transition to digital data delivery,” said David Levin, CEO of UBM. “We can now look forward to focusing on further developing UBM as a fast-growing and increasingly profitable events-led, marketing services and communications business.”