Gartner Has Sold Its Vision Events Portfolio to CMP
Stamford, CT February 29, 2008 – Gartner, Inc. (NYSE: IT) (www.gartner.com), the world’s leading information technology research and advisory company, has sold its Vision Events portfolio to CMP (www.cmp.com), a media and marketing solutions company serving the technology industry and a subsidiary of United Business Media plc (LSE: UBM) (www.unitedbusinessmedia.com).
The Jordan, Edmiston Group, Inc. (www.jegi.com) of New York, the leading provider of independent investment banking services for the media and information industries, represented Gartner in this transaction and acted as its exclusive financial advisor.
Gene Hall, Gartner’s Chief Executive Officer, said, “The sale of Vision Events is consistent with our strategy to focus on content driven event formats where we have a greater competitive advantage.”
A transition team has been formed that contains senior Gartner and CMP managers. This team will implement a comprehensive plan to ensure the seamless transition of Vision Events and its 2008 events portfolio to CMP.
Beginning in first quarter 2008, Gartner expects to account for Vision Events as a discontinued operation. In 2007, the business generated revenue of approximately $21 million, Normalized EBITDA of approximately $4 million and earnings per share of approximately $0.02. Excluding Vision Events, Gartner’s global events business delivered 62 events and generated revenues of $160 million in 2007.
Gartner is the world’s leading information technology research and advisory company. Gartner delivers the technology-related insight necessary for its clients to make the right decisions, every day. From CIOs and senior IT leaders in corporations and government agencies, to business leaders in high-tech and telecom enterprises and professional services firms, to technology investors, Gartner is the indispensable partner to 60,000 clients in 10,000 distinct organizations. Through the resources of Gartner Research, Gartner Consulting and Gartner Events, Gartner works with every client to research, analyze and interpret the business of IT within the context of their individual role. Founded in 1979, Gartner is headquartered in Stamford, Connecticut, and has 3,900 associates, including 1,200 research analysts and consultants in 75 countries.
About United Business Media
United Business Media is a leading global business media company that informs markets and brings the world’s buyers and sellers together at events, through online, in print, and with the information they need to do business successfully. UBM focuses on serving professional commercial communities, from doctors to game developers, from journalists to jewelry traders, from farmers to pharmacists around the world. The company’s 5,000 staff in more than 30 countries is organized into specialist teams that serve these communities, helping them to do business and sustain effective and efficient markets.
CMP, a subsidiary of United Business Media, is a media and marketing solutions company serving the technology industry. With the leading online, event and print brands in all technology market categories, and with services and tools that reach beyond traditional advertising, CMP shapes and influences the technology industry worldwide. CMP publishes highly respected media brands such as TechWeb, InformationWeek, ChannelWeb, CRN, EE Times and TechOnline; produces major industry events such as Interop, Web 2.0 Expo, XChange, Game Developers Conference and the Embedded Systems Conferences; and provides business information and marketing services such as the International Customer Management Institute, Semiconductor Insights and Second Life consulting for technology marketers.
The Jordan, Edmiston Group, Inc. (JEGI) of New York, NY is the leading independent investment bank for the media and information industries. As the leading M&A advisor to media and information companies, JEGI has closed numerous high-profile transactions for: Global Media and Information Companies; Entrepreneurial Owners; and Private Equity and Venture Capital Funds. JEGI has established an impeccable reputation in the marketplace, which reflects its superior performance on behalf of its clients. The firm’s executive team of investment bankers has over 200 years of combined experience across the media and information market sectors that JEGI serves.
“JEGI was a critical partner and instrumental to the successful divestiture of our Vision Events business. Their knowledge of the Media and Events space coupled with unique insights and relationships allowed us to accomplish our goals within the context of a very challenging economic environment.”
– Craig Safian, Group VP, Global Finance & Corporate Development, Gartner