New York, NY, January 4, 2016 – FC Business Intelligence (FCBI) announced that it has sold TU-Automotive to Penton, an innovative information services company, in a move that strengthens both Penton and TU-Automotive’s position as the market-leading provider of events and digital information for the fast-growing automotive technology and Internet of Things (IoT) segments.

FCBI was co-advised by JEGI (www.jegi.com), the leading independent investment bank for the global media, information, marketing, software and tech-enabled services sectors, headquartered in New York, NY, and Clarity (www.claritycp.com), a leading independent investment bank serving the media and technology industries, headquartered in London.

Founded in 2002, TU-Automotive provides events, networking, content and analysis on the future of automotive technology, focusing on the connected car, mobility and autonomous driving.  TU-Automotive’s event portfolio contains 13 conferences and exhibitions across the globe, including the world’s largest connected car event, TU-Automotive Detroit, plus regional flagship events TU-Automotive Europe and TU-Automotive Japan.  It also provides digital content, analysis, education and business intelligence through its communications hub, www.tu-auto.com.  TU-Automotive will become a part of the Penton Ground Transportation group, led by Vice President Sue Boehlke.  The group currently includes WardsAuto, FleetSeek, FleetOwner, Trailer Body Builders and American Trucker.

TU-Automotive Division Director Gareth Ragg said, “For the past 15 years, TU-Automotive has played a pivotal role in the evolution of the connected vehicle; uniting the ecosystem and driving the technology forward by providing the industry’s largest and most respected networking and information platforms.  At the beginning of 2016, we stand at a point where connectivity is now not only defining the future of the automotive industry, it is enabling a revolution in mobility, creating the foundation for the autonomous vehicle and spearheading the rapidly evolving Internet of Things.”

He continued, “The acquisition is hugely exciting for the future of TU-Automotive.  Penton has both deep roots in the automotive industry and shares our vision of a connected world where the vehicle plays a central role.  This new partnership will enable us to continue to enhance our global events portfolio whilst creating new, innovative information and marketing services that will help advance the industry and the businesses of our customers.”

Sue Boehlke said, “TU-Automotive offers the most respected, high-profile platforms to expand Penton Ground Transportation’s reach beyond the United States into Europe, South America and Asia, with a core hub of operations in London.  We look forward to TU-Automotive becoming part of the Penton family.”

The acquisition also strengthens Penton’s planned launches around IoT in 2016 across Penton.  “IoT and connected devices are a major theme across Penton, impacting many of our industry sectors, including ground transportation, aviation, agriculture, technology and electronics.  Companies and factories that are connected are more productive, and the implications for innovation through IoT are tremendous,” said David Kieselstein, Penton’s CEO.  “In 2016 we are launching a major IoT initiative to help companies break down the complexity.  From sensors and platforms to data and security issues, we’ll cover best practices to help businesses grappling with policy, strategy and implementation in the application of this new wave of technology.”

About TU-Automotive
TU-Automotive is the reference point and communications hub for the evolving automotive technology segment as it converges with consumer electronics, mobile and IoT to re-define connectivity, mobility and autonomous use-cases.  TU-Automotive provides the world’s biggest B2B connected car conferences and exhibitions, as well as industry analysis and news.  For more information, visit www.tu-auto.com.

About Penton
Penton is an innovative information services company that empowers 20 million business decision makers in markets that drive more than 12 trillion dollars in purchases each year.  Our products inform with rich industry insights and workflow tools; engage through dynamic events, education and networking; and advance business with powerful marketing services programs.  Penton is the way smart businesses buy, sell and grow.  Headquartered in New York, Penton is privately owned by MidOcean Partners and Wasserstein & Co.  For more information, visit www.penton.com.

About JEGI
JEGI has been the leading independent investment bank for the global media, information, marketing, software and tech-enabled services sectors for nearly 28 years.  Headquartered in New York, with offices in Boston and London (through our partnership with Clarity), JEGI has completed more than 600 high‐profile M&A transactions, serving global corporations; middle‐market and emerging companies; entrepreneurial owners and founders; and private equity and venture capital firms.  For more information, visit www.jegi.com.

About Clarity
Clarity is a leading international adviser to media and technology businesses.  Headquartered in London, with a partner in New York, Clarity executes the full range of corporate transactions on behalf of clients, including company sales, private acquisitions, public company takeovers, mergers, management buy-outs and buy-ins, equity and debt fundraisings and joint ventures and strategic alliances.  For more information, visit www.claritycp.com.