The ITE Group has acquired the India-based Entertainment Technology portfolio from Diversified Communications, as a welcome diversification from ITE’s dependence upon Russia.
The acquisition includes two co-located events, PALM Expo and Music Expo and two publications, Pro Sound Systems and Studio Systems. The portfolio will be managed by ITE’s Indian partner company, Asian Business Exhibitions and Conferences (ABEC).
Ted Wirth, CEO and president of Diversified Communications said: “We think our customers, Mumbai-team and entertainment technology products will be best served as part of the ITE Group, “though we are still committed to our Asian operations, with divisions in Hong Kong, Thailand and Singapore, which serve the food and beverage, natural and organic, business management and education markets.”
The next edition of PALM Expo and Music Expo will take place on 28-30 May 2015 at the Bombay Exhibition Center, Mumbai.
ITE’s chief executive, Russell Taylor said: “We have a growing business in India and we’re committed to further strengthening our position in Asia as well as expanding the diversity of the sectors that we cover globally. The PALM portfolio fits well with our strategic growth plans.”
The end of 2014 saw ITE expand into the transportation and logistics market with the acquisition of Breakbulk Holdco UK Ltd.
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