One of the United States biggest trade show operators, Advanstar Communications, has been sold to UBM for $972 million. Advanstar hosts 54 trade shows including MAGIC, Project, Fashion Coterie, and shows for licensing, life sciences, and powersports.
The acquisition will increase UBM’s events revenues by £135m annually, the company said, from £463m last year.
Tim Cobbold, Chief Executive Officer of UBM, said: “UBM will become the largest events organiser in the US – the biggest events market in the world.”
The purchase of Advanstar will give UBM a new vertical, particularly concentrating on the U.S. fashion scene.
There is no news yet as to how this will change MAGIC and Project moving forward, but it is a sign that entering into the U.S. fashion market is viewed globally as a huge opportunity.