The latest stage in the Reed publication sale was announced yesterday with Canon Communications acquiring several titles in a bid to expand its global B2B presence.
According to Canon, the purchase includes four key design engineering titles: Electronic Design News (EDN), Design News, Test & Measurement World, and Packaging Digest.
In the company’s release Canon states that, “this transaction will reinforce Canon’s leading position in the advanced manufacturing sector worldwide in exhibitions, publications, and digital media.”
The acquisition of the US assets was completed today, and the acquisition of the balance of the assets is expected to close in the near future after the completion of required legal processes. Terms of the agreement were not disclosed.
Canon’s executive VP of its publishing division, Ron Wall, has said “EDN, Design News, Test & Measurement World, and Packaging Digest are great brands with great talent. We have already begun work on integrating our new Asian assets and building more products for all Canon brands worldwide. We will also act quickly to integrate our Electronics brands with our Medical Device brands and Packaging Digest with our vertical Pharmaceutical and Medical Packaging News.”
Speaking about the motives for the purchase, Kevin O’Keefe, executive VP of Canon’s Events Division, added, “We’ll be able to accelerate the penetration of our trade shows in North America, Europe, and Asia given the incremental market access these brands provide. In fact, tying in with EDN, we are already developing medical electronics features alongside our medical manufacturing shows in Yokohama, Japan and Chicago later this year.”