NEW YORK, July 16, 2014 /PRNewswire/ -- Summit Professional Networks (Summit) announced that it completed the sale of the Investing in African Mining Indaba to Euromoney Institutional Investor PLC, the international online information and events group. The sale of the asset, Summit's only overseas event business and only offering in the mining industry, is the latest step in tightening the focus of its businesses to support growth in the financial services and legal industries, providing integrated media solutions and marketing services that drive recruitment and market development.
"Mining Indaba, its delegates, sponsors and organizing team are fabulous assets," said Steve Weitzner, Summit's CEO. "The event is THE place to meet for anyone and everyone interested in the development of mining on the African continent and has served as a catalyst for billions in investment into African mining since it was first organized 20 years ago. While Summit has enjoyed its stewardship of the Indaba, we have been moving toward a tighter focus on integrated marketing solutions for financial service marketers. Euromoney is already a leader in the metals and minerals industries and has the international resources to accelerate Indaba's growth and expand the business globally. We are proud of the Indaba team and wish them even greater success at Euromoney," Weitzner said.
Jonathan Moore, who has served as senior vice president of events and managing director of Mining Indaba at Summit will join Euromoney and will run the business from Euromoney's NY offices; the event's organizational and sales teams will also join Euromoney.
Josh Brous, who has served as vice president of branded media events at Summit, will step up to be VP of Summit's Events Division and will manage the company's portfolio of live events in the financial services and legal markets; he will report to Weitzner. "We are extremely excited about the continued growth of the Events Division," said Brous. "Since my arrival last year, we have launched five new events with a few more in development. I am excited about the opportunity ahead of us and the continued support of Summit."
Summit Professional Networks was represented by The Jordan, Edmiston Group, Inc., a New York City based investment bank that specializes in the media, information, marketing services and related technology industries. Reed Smith LLP, an international law firm with 25 offices around the globe, was legal counsel to Summit on the transaction and provides ongoing legal advice to the company.
About Summit Professional Networks
Summit Professional Networks supports the growth and vitality of the insurance, financial services and legal communities by arming professionals with the knowledge and education they need to succeed at every stage of their careers. We provide face-to-face and digital events, websites, mobile sites and apps, online information services, and magazines giving professionals multi-platform access to our critical resources, including Professional Development; Education & Certification; Prospecting & Data Tools; Industry News & Analysis; Reference Tools and Services; and Community Networking Opportunities. Using all of our resources across each community we serve, we deliver measurable ROI for our sponsors through a range of turnkey services, including Research, Content Development, Integrated Media, Creative & Design, and Lead Generation.
For more information, please visit us at www.summitprofessionalnetworks.com/.
SOURCE Summit Professional Networks