Manhasset, NY – CMP will acquire Vision Events®, a division of Gartner, Inc. which organizes invitation-only events for emerging technology vendors and buyers such as RetailVision, MidSize Enterprise and IT ChannelVision. The transaction is expected to close within two weeks. Last year, the business generated revenues of $21 million and normalized EBITDA of roughly $4 million. Gartner retains its 62 other global events which generated revenues of $160 million in 2007.
Vision Events will bolster the current CMP Channel lineup up of conferences that are organized by its CMP Channel Events Group. The group already includes the XChange portfolio, CNOP Channel Custom Events and CMP Channel eVents, which produces virtual trade shows.
“By adding Vision Events to our already strong portfolio, we are expanding our offerings and markets even further,” said Robert Faletra, president of CMP Channel.
Terms of the deal announced Thursday were not revealed.