Apprise Media, which is backed by Spectrum Equity Investors, announced April 21 that it has agreed to acquire Canon Communications from a private equity fund operated by media merchant bank Veronis Suhler Stevenson. Los Angeles-based Canon specializes in the medical device and plastics markets. It produces 15 trade shows, publishes 15 magazines and operates eight online properties. Industry observers said the deal was valued at $200 million and estimated that the EBITDA multiple was in the low teens.
Penton Media reports higher revenue, EBITDA
Penton Media reported April 15 that its revenue increased year-over-year for the first time since 2000. The company posted revenue of $212.7 million, up 3.2% from $206.0 million in 2003. Revenue grew 15% in the fourth quarter of 2004 to $54.4 million, from $47.3 million in the same period of 2003, although the comparison benefited from the movement of a key trade show to the fourth quarter in 2004 from the third quarter in 2003. Penton's consolidated adjusted EBITDA improved to $33.2 million for 2004, an increase of 31.4% from $25.2 million in 2003.
101communications acquires ETC Group
101communications has acquired the assets of ETC Group, publisher of T.H.E. Journal, which targets technology users in education. The acquisition includes the magazine's Web site; three e-mail newsletters; T.H.E. Institute, its professional development division; and EduHound, a resource directory for educators, students and parents.
TechTarget creates Windows IT network
Information media company TechTarget has launched a network of eight Web sites targeting various segments of enterprise IT professionals who work with Windows technologies. Tech-Target said its Windows-focused media will segment the market into areas of specialization. Sites include SearchWin2000.com, SearchWindowsSecurity.com and SearchSQLserver.com.