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BtoB

Penton agrees to buy New Hope Communications

Published on .

Cleveland--As rumored, Penton Media announced Tuesday that it has entered into a definitive agreement to acquire New Hope Communications in a deal worth $82 million, $41 million of which will be paid in cash and the rest in shares of Penton stock. The core products of New Hope, which is a Boulder, Colo.-based business-media company serving the natural products industry, include two large trade shows: Natural Products Expo East and Natural Products Expo West. "The acquisition of New Hope Communications is another example of the execution of Penton's strategy to acquire leading business-media companies in growth markets," said Penton CEO Thomas Kemp. "In addition, the purchase reinforces Penton's strategies to diversify our market positions and revenue streams."
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