VS&A COMM. PARTNERS ACQUIRES PHILLIPS BUSINESS INFORMATION.VS&A Communications Partners III (New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of ), the private equity affiliate of Veronis Suhler & Associates, has signed a definitive agreement to acquire Phillips Business Information (PBI PBI protein-bound iodine. PBI abbr. protein-bound iodine PBI, n See iodine, protein-bound. PBI protein-bound iodine. ; Potomac, MD) from Phillips International (Potomac, MD). In addition, Phillips Business division Hart Publications (Houston, TX) will be acquired by Chemical Week Associates (CWA CWA Clean Water Act (33 USC) CWA Communications Workers of America CWA Concerned Women for America CWA CEN Workshop Agreement (European pre-normative document) CWA County Warning Area CWA Clean Water Action ; New York), a company owned by VS&A Communications Partners II. No terms of the deals were given. Phillips Business properties include trade magazine publishing, business information services See Information Systems. , and conferences and trade shows. It expects to generate over $ll0 million in revenue in 2000. Operating in the media/communications, cable television, satellite, aviation, defense and energy sectors, the company's information products include daily news services, Web sites, 56 newsletters, 10 magazines, directories, market studies, conferences and consulting. Major assets include the "RepliTech" trade shows, AV Video & Multimedia Producer, Via Satellite Communications Technology Noun 1. communications technology - the activity of designing and constructing and maintaining communication systems engineering, technology - the practical application of science to commerce or industry and Rotor & Wing magazines, and Defense Daily newsletter. Hart Publications, merged with PBI in 1998, produces magazines, newsletters, conferences, directories and online resources for the global energy industries. Titles include Hart's Oil & Gas Investor, Hart's E&P, Hart's Energy Markets and Hart's World Refining. Jeffrey Stevenson, president of both VS&A CP II and III, said "we will use (our) significant resources in B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business trade magazines and trade shows, and the business information industry to expand upon the tremendous foundation PBI has built over the years." The company will concentrate efforts on expanding PBI's presence on the Web, increasing its trade show portfolio and expanding its European focus. Phillips will continue to operate as a stand-alone company stand-alone company An independent operating firm. For example, a large diversified firm may consider spinning off a subsidiary because, as a stand-alone company, the subsidiary would command a higher price-earnings ratio than the parent. . PBI president Tom Thompson, initially expected to stay on, has resigned. Former Miller Freeman An earlier subsidiary of United News & Media (www.unm.com). Miller Freeman was a leading trade show organizer and publisher serving a variety of industries. In 1996, it acquired the Blenheim Group, producers of the popular PC EXPO trade show, and in 1999, it acquired the CMP president/ceo Don Pazour has been hired to fill the vacancy. VS&A Communications Partners II acquired CWA in 1997 and has since expanded the company through eight acquisitions. CWA president Michael Silber said the deal "underscores CWA's commitment to becoming the most complete information company in the chemical industry." Phillips International retains its consumer investment (Wealth Group) and health publishing (Health Group) businesses. Together, those two units will generate over $250 million this year. |
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