TU-Automotive has been acquired by Penton, an innovative information services company, in a move that strengthens both Penton and TU-Automotive's position as a 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 conference 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, 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.
TU-Automotive, Division Director, Gareth Ragg said, "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. 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."
He continued, "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. 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."
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 for us, 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 was co-advised by JEGI, independent investment bank for the global media, information, marketing, software and tech-enabled services sectors, headquartered in New York, NY, and Clarity, the independent investment bank serving the media and technology industries, headquartered in London.