Penton Acquires Connected Car Portfolio of Events from FC Business Intelligence
Penton adds to its ground transportation portfolio with the acquisition of TU-Automotive from FC Business Intelligence for an undisclosed sum. The buy includes 13 global conferences and exhibitions, such as the world’s largest connected car event – TU-Automotive Detroit.
“The acquisition is hugely exciting for the future of TU‐Automotive. Penton has both deep roots in the automotive industry and shares our vision of a connected world where the vehicle plays a central role,” said TU‐Automotive Division Director Gareth Ragg.
He added, “This new partnership will enable us to continue to enhance our global events portfolio whilst creating new, innovative information and marketing services that will help advance the industry and the businesses of our customers.”
The acquisition announcement was made in advance of International CES, on tap Jan. 6-9 in Las Vegas, where the connected car landscape has a fast-growing footprint at the massive consumer electronics show.
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.
Besides the TU‐Automotive Detroit show, the company also has regional flagship events TU‐Automotive Europe, TU‐Automotive Japan and The Consumer Telematics Show.
In addition, it provides digital content, analysis, education and business intelligence through its communications hub.
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.
“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,” Boehlke said. “We look forward to TU‐Automotive becoming part of the Penton family.”
Ragg said that for the past 15 years, “TU‐Automotive has played a pivotal role in the evolution of the connected vehicle; uniting the ecosystem and driving the technology forward by providing the industry’s largest and most respected networking and information platforms.”
He added, “At the beginning of 2016, we stand at a point where connectivity is now not only defining the future of the automotive industry, it is enabling a revolution in mobility, creating the foundation for the autonomous vehicle and spearheading the rapidly evolving Internet of Things (IoT).”
Gartner predicts that by 2020, more than 250 million vehicles will be connected globally, with the number of installed connectivity units in vehicles worldwide increasing by 67 percent and consumer spend on in-vehicle connectivity fully doubling.
The TU-Automotive portfolio fits into Penton’s overall strategy of expanding its IoT reach.
“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.
He added, “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 was co‐advised by JEGI, an independent investment bank for the global media, information, marketing, software and tech‐enabled services sectors, headquartered in New York, and Clarity, an independent investment bank serving the media and technology industries, headquartered in London.