LONDON, January 5, 2016 /PRNewswire/ --
On 4th January, 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.
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, http://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.
Penton's 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."
FCBI Founder and Chairman Guy Grant said: "It has been enormously exciting building TU-Automotive into the most influential Hub for the Connected Vehicle. TU-Automotive now stands in a pre-eminent place at a pivotal moment of the auto industry's development. Penton is already a leader in the automotive space whose impressive resources can accelerate and expand the business to achieve its real potential. "
FCBI was co-advised by JEGI (http://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 (http://www.claritycp.com ), a leading independent investment bank serving the media and technology industries, headquartered in London.
FC Business Intelligence Ltd is a London and New York based B2B information and Events Company. Working in diverse markets and geographies the company specialises in the origination and development of conferences and tradeshows as well as the provision of proprietary business information products and services. For more information, visit http://www.fc-bi.com
SOURCE FC Business Intelligence Ltd (FCBI)