New York—Apprise Media announced Thursday that it has agreed to acquire Los Angeles-based Canon Communications from a private equity fund operated by media merchant bank Veronis Suhler Stevenson.
Industry observers said the deal was valued at about $200 million.
Canon specializes in the medical device and plastics markets. It produces 15 trade shows, publishes 15 magazines and operates eight online properties. Canon’s key properties include devicelink.com, Medical Device & Diagnostic Industry and the Medical Design and Manufacturing trade show.
Apprise, which is backed by Spectrum Equity Investors, said the Canon deal gives it an operating base in b-to-b media.
"We believe that the b-to-b media segment is in the early stages of a cyclical upturn and that well-positioned companies like Canon have strong growth potential," Charles G. McCurdy, Apprise chairman-CEO, said in a statement.