AVCJ Group Has Been Sold to Incisive Media
Monday, 26 June 2006
AVCJ Group Limited (AVCJ), a Hong Kong based provider of financial newsletters, conferences and databases to the Asian private equity and venture capital communities, has been sold to Incisive Media plc, a leading provider of business information, for an initial consideration of $6 million, and deferred earn-out consideration capped at $9 million payable over three years, subject to certain performance targets.
AVCJ provides detailed data, analysis and networking opportunities to its subscribers and conference attendees. It offers a broad array of services, including conferences, magazines, directory-based products and research, and data-analysis. AVCJ organizes 8-10 conferences a year, which are held in the following locations: Hong Kong; Beijing; Dubai; Tokyo; Mumbai; Sydney; London; Shanghai; Silicon Valley; and Chicago. AVCJ publishes Asian Venture Capital Journal, M&A Asia and Private Equity Asia, as well as a Chinese language version of Asian Venture Capital Journal.
Tim Weller, Chief Executive of Incisive Media said, “AVCJ is a well established, robust business with an excellent footprint in Asia. It is a well regarded company with a strong brand that is a source of intelligent content for the Asian financial community. I am delighted with this acquisition which complements Incisive Media’s European position in the private equity publishing, data and conference business. The acquisition brings valuable coverage in Asia, which Incisive Media can leverage to provide a comprehensive service offering to the M&A, private equity and venture capital communities.”
Dan Schwartz, a principal of AVCJ, who will continue as its Chairman and CEO, said, “Asian Venture Capital Journal has continued to grow since its inception almost 20 years ago. The company’s annual Hong Kong conference attracts major players from Asia’s private equity community, and our journals and research are important contributors to news, data and analysis in our industry. We remain enthusiastic about the future of Asian private equity and venture capital and equally excited about AVCJ’s own future with Tim and his team at Incisive Media.”