Buzz about Hyve acquisition worth £481m

Another major acquisition was announced this week with a deal reached for the takeover of Hyve.

The agreement between the international organizer and Providence Equity Partners is worth around £481 million.

It comes soon after Informa announced its move to takeover Tarsus Group.

Meanwhile, ExpoPlatform has launched a new survey to shine a Spotlight on Communities. Take part now to give your insights.

In other news, a new set of events industry standards have been agreed by ASEAN tourism ministers and UFI has expanded its media team. Read your full Week in Events below.

Hyve deal takeover agreed for £481m

A deal has been reached for the takeover of global events brand Hyve worth around £481 million.

US firm Providence Equity Partners has made an agreement for the acquisition of the UK-based organizer which will now go for approval to the group’s shareholders and is also subject to anti-trust clearance.

The news comes after Informa announced the acquisition of B2B events group Tarsus in a deal worth $940m (£770m).

Richard Last, chairman of the group, said: “The board believes the offer represents value for shareholders and that Providence, with their knowledge of the sector and belief in the business and management team, will be a good partner for Hyve.

“I would like to take this opportunity to recognise the exceptional contribution of our people, whose commitment and hard work have fundamentally changed Hyve for the better and place us at the forefront of our industry.”

Under the terms of the acquisition, each shareholder would be entitled to receive £1.08 in cash for each share held.

Andrew Tisdale, senior managing director of Providence Equity Partners, added: “We are delighted to be investing in Hyve and supporting Mark and the management team, including with capital to support their growth plans.”

Hyve’s global portfolio of market leading brands is divided across four divisions – RetailTech and FinTech, EdTech and Natural Resources and Retail, as well as Manufacturing and Engineering and Asia.

It consists of 33 in-person events and 23 tech-enabled products and includes brands such as Shoptalk, Spring Fair, Bett, Mining Indaba and the recently acquired Fintech Meetup.

Meanwhile, Providence is a highly experienced investor in the events sector having been the majority shareholder of CloserStill Media since 2018 and having previously invested in Clarion Events and GLM.

UFI expands its marketing and comms team

UFI has announced two new appointments to its marketing and communications team.

Noor Shalghen has joined as coordinator working with regional directors and project managers to develop their international related activities as well as to help reach wider audiences.

🎉 Welcome to the #UFI team, Noor Shalghen and Molly Thornberg!

Both Molly and Noor help to strengthen UFI's Marketing and Communications team and to facilitate the dialogue between UFI and its global community. #ufinews #eventprofs #peoplenews #ufievents pic.twitter.com/QbcVL4vwxW

— UFI (@UFILive) March 16, 2023

Molly Thornberg is now social media and media relations coordinator, responsible for facilitating the dialogue between UFI and its global community as well as liaising with the association’s industry partners.

Adeline Vancauwelaert, UFI COO, said: “I am pleased to welcome both Noor Shalghen and Molly Thornberg to UFI’s marketing and communications team.

“Both bring a wealth of experience that, when combined, will help drive UFI’s communication forward. The entire UFI team looks forward to working closely with them to help UFI continue to grow.”

Spotlight on Communities survey

What makes an online event community tick?

We want to know how organizers like you are handling this 365 approach, what are the challenges and where you see the greatest opportunities.

That’s why ExpoPlatform launched the Spotlight on Communities survey to gather insights from eventprofs like you.

The findings will be brought together in a study and released at the upcoming MPI European Meetings & Events Conference in Brighton.

South-east Asia ministers agree events professional standards

A new professional standards scheme for the events industry has been approved by politicians in South-east Asia.

The initiative will become effective across the region this year, having received backing from 10 ASEAN tourism ministers.

Approval of Mutual Recognition Arrangement on Tourism Professionals for MICE Professionals and Event Professionals was made during the 26th meeting of ASEAN Tourism Ministerial in Yogyakarta, Indonesia.

Chiruit Isarangkun Na Ayuthaya, president of the Thailand Convention and Exhibition Bureau, said: “MICE industry is not only a sector experiencing consistent growth but also a driver of the national economy.

“Certified standards for MICE Professionals and Event Professionals in ASEAN will contribute more to the liberalisation of trade and services in the region and offer enhanced convenience for MICE professionals in their cross-border operation within ASEAN.

“Their talents and capabilities are collectively recognised at a regional scale, hence, promoting learning, instruction and capacity training based on a unified standard.

“With this, the competitiveness of MICE industry in Thailand and other member countries of ASEAN will be enhanced and upgraded.”

It is hoped the approved standards will enhance competitiveness and strengthen the potential of ASEAN MICE industry.

New Easyfairs Nordic CEO appointed

Easyfairs has revealed the new chief executive officer of its Nordic operations.

Henrik Johansson takes on the position for the leading international events organizer, replacing interim CEO Joachim Warnberg.

He was recently CEO at the e-sports company Inferno Online and previously worked at Easyfairs as head of business unit.

Henrik said: “I want to thank Joachim for his tireless commitment to Easyfairs. During Joachim’s time as CEO, Easyfairs Nordic returned to a profitable business after the challenges of the pandemic, broadened its portfolio with new events and strengthened the company’s environmental work with certification according to the Swedish Environmental Base standard for environmental management systems. All of this provides a solid foundation for us to move forward.”

Joachim added: “During my time as interim CEO, we interviewed many candidates for the CEO role at Easyfairs Nordic.

“We are happy to announce that we now have found a person who deeply understands how to run and develop an innovative and fast-paced business.

“I am convinced that Henrik, with all his experience, will further develop our exhibition facilities and continue to build Easyfairs’ portfolio of sustainable and profitable events.”

Joachim will continue to take an interest in the business, with a seat on the company’s board.

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