printer friendly version

Core buys International Fairs for over R12 million.

Core Holdings, an IT, Internet and media group, says it has acquired the business of International Fairs and Exhibitions for R12,887,000 in cash and shares.

According to ITWeb's Ranka Jovanovic, Mark Floisand, CEO of Core Holdings said that the acquisition was "a natural move to broaden the range of our IT media offering".

The group's media subsidiary, CoreMedia, is affiliated to Ziff-Davis in the US and publishes local editions of PC Magazine, PC Week, NetWeek and Internet Computing. It also operates the ZDNet and GameSpot Web sites. The directors of Core Holdings believe the deal opens up exciting e-commerce opportunities and they predict major growth opportunities in the Internet area. "Not only do we add properties to our existing portfolio, but we also extend our reach to an impressive client base in the exhibition and events markets," says Floisand.

International Fairs and Exhibitions organises several niche business-to-business events, including Tel.Com, Business Solutions Expo, Office Retail Expo and Com.Tel. The company also offers online event and exhibition services. Floisand adds that International Fairs is a strong brand that will operate as a self-contained subsidiary, utilising Core's media for marketing.

MD of International Fairs and Exhibitions, Wolfgang Striebeck, says: "The print and Internet media within the Core stable provide us with additional tools to penetrate the market, and excellent future opportunities."

Share this article:

Further reading: