United Business Media Acquires Think Service
New York, NY January 23, 2008 – United Business Media plc (www.unitedbusinessmedia.com) today announced that it has acquired Think Service, Inc. (www.thinkhdi.com) on behalf of CMP Technology (www.cmp.com). UBM has acquired Think Service from its founder-owners for an initial cash consideration of $24.5 million, with a further performance-related consideration of up to $5 million, payable over the next 12 months.
The Jordan, Edmiston Group, Inc. (www.jegi.com), a New York-based independent investment bank that specializes in media and information, represented Think Service in this transaction and acted as its exclusive financial advisor.
Headquartered in Colorado Springs, CO, Think Service is a membership, certification and training, and events organization focused on IT service and support practitioners. It is the U.S. market leader in the provision of training and information to service desk employees, also known as help desk employees. With 38 full-time employees, TSI operates the oldest and largest association for IT support personnel in the world, serving more than 7,500 members. TSI also organizes an annual Conference & Expo that attracts over 2,000 attendees and is recognized as the industry’s leading event for IT support professionals.
TSI is a highly complementary addition to CMP Technology’s existing International Customer Management Institute (ICMI) business which focuses on call center consulting, membership, certification and training, and events. ICMI was acquired in 2005 to complement CMP’s existing leadership position in call center events and marketing services. UBM has continued to build its customer management and call center business worldwide, with interests now extending across the U.S., UK, Europe, Singapore, Hong Kong, Philippines, Thailand and Japan.
David Levin, Chief Executive Officer of United Business Media, said, “Think Service is a business with strong revenue and profit growth potential, both in the U.S. and worldwide and is a great fit with CMP Technology’s existing ICMI business. The acquisition of TSI is another step in the continuing development of CMP’s global exhibition, training and consulting business serving the worldwide professional IT support market, an attractive and growing market.”
About Think Service
Think Service is dedicated to helping IT service and support professionals and their organizations maximize the return on their professional development expenditures. To this end, TSI focuses on establishing industry best practices, developing certification and training programs based on internationally-recognized standards, and providing members with timely access to valuable industry resources and events. Founded in 1989, Think Service is the world’s largest membership association for internal and external IT Service and Support professionals, with more than 7,500 members and 68 local chapters worldwide.
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.
The Jordan, Edmiston Group, Inc. (JEGI) of New York, NY is a leading independent investment bank for the media and information industries. As a 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.