HONG KONG, July 1, 2015 /PRNewswire/ -- Global Sources Ltd.
(NASDAQ: GSOL) has sold its 60.1 percent interest in its eMedia
Asia Limited subsidiary to UBM plc, the 39.9 percent shareholder,
for approximately US$9.0 million in
cash subject to adjustments for cash and working capital.
eMedia's business includes the China International
Optoelectronic Expo (CIOE) and print and online
publications serving Asia's
electronics community, namely various Asian editions of EE
Times, Electronics Supply & Manufacturing and
EDN.
Global Sources' executive chairman, Merle A. Hinrich, said: "The sale of eMedia is
consistent with our strategy to focus on our strong core business
of cross border B2B trade and address the markets we believe offer
the greatest opportunity for growth. By divesting this subsidiary,
we are redirecting resources to enhance our multi-channel platform
and improve the services we provide to both our buyer and supplier
communities."
About Global Sources
Global Sources is a leading business-to-business media company
and a primary facilitator of trade with Greater China.
The core business facilitates trade between Asia and the world using English-language
media such as online marketplaces (GlobalSources.com), print and
digital magazines, sourcing research reports, private sourcing
events, and trade shows.
More than 1 million international buyers, including 95 of the
world's top 100 retailers, use these services to obtain product and
company information to help them source more profitably from
overseas supply markets. These services also provide suppliers with
integrated marketing solutions to build corporate image, generate
sales leads and win orders from buyers in more than 240 countries
and territories.
Now in its fifth decade, Global Sources has been publicly listed
on the NASDAQ since 2000.
About eMedia Asia Limited
eMedia Asia provides
500,000-plus technology decision-makers throughout Asia and China with access to a multichannel media
network. Through its technical events, publications and online
network, eMedia Asia leads in
providing the region's electronics community with the business and
technical information they need to remain competitive.
About UBM plc
UBM plc is a leading global events-led marketing services and
communications company. We help businesses do business, bringing
the world's buyers and sellers together at events, online and in
print. Our 5,000 staff in more than 20 countries are organised into
specialist teams which serve commercial and professional
communities, helping them to do business and their markets to work
effectively and efficiently. Running over 300 events per year
UBM is the second largest exhibitions organiser globally and the
biggest commercial organiser in the US, mainland China, India
and Malaysia.
For more information, go to http://www.ubm.com; follow us on Twitter at
@UBM_plc to get the latest UBM corporate news; follow@UBM for news
and updates from across the businesses and selected members of
UBM's Twitterati. http://media.ubm.com/social.
Safe Harbor Statement
This news release contains forward-looking statements within the
meaning of Section 27-A of the Securities Act of 1933, as amended
and Section 21-E of the Securities Exchange Act of 1934, as
amended. The company's actual results could differ materially from
those set forth in the forward-looking statements as a result of
the risks associated with the company's business, changes in
general economic conditions, and changes in the assumptions used in
making such forward-looking statements.
Press Contact in
Asia
|
Investor Contact
in Asia
|
Camellia
So
|
Connie Lai
|
Tel: (852)
2555-5021
|
Tel: (852)
2555-4747
|
e-mail:
cso@globalsources.com
|
e-mail:
investor@globalsources.com
|
|
|
Press Contact in
U.S.
|
Investor Contact
in U.S.
|
Brendon
Ouimette
|
Cathy
Mattison
|
Tel: (1-480)
664-8309
|
LHA
|
e-mail:
bouimette@globalsources.com
|
Tel: (1-415)
433-3777
|
|
e-mail:
cmattison@lhai.com
|
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SOURCE Global Sources