Tue, 25 Sep 2012 | BUSINESS SALE
UBM, the media group, has put a selection of its data services up for sale, it has been confirmed.
Credit Suisse was appointed to conduct a strategic review of the company's data services division earlier this year, but it was already being discussed internally that a sale was on the cards.
UBM chief executive David Levin blamed the company's less than ideal results in August for the review. But despite noting that the firm had seen a “tough half”, he did highlight that there was still some “really important” strategic growth noted in the same period.
However, the firm is looking to refocus its efforts by scaling back the magazines business and focusing instead of a number of major tradeshows and conferences.
But the data services sector, which expected to be sold for a figure in the region of £250 million, is still in relatively good health. Speaking last month, Mr Levin told the Telegraph: “The position of this business remains absolutely intact. We see opportunities there. We are not coming to this saying data services is challenged. The question is merely where is the best place that we could put the capital to work.
“If we sold the business we would most likely invest the proceeds around events and PR Newswire.”
27 September: Updated to clarify data services for sale, not professional publications
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