Business & Finance

Penton Acquires Assets of Australian Media Company

Business Wire - May 31st, 2001

Penton Media, Inc. (NYSE:PME) announced today that it has acquired the assets of DWR Media, one of Australia's leading IT media companies. Terms of the agreement were not disclosed.

DWR publishes Windows 2000 Magazine (a Penton Media/Duke Communication brand which DWR previously published under license); iTgraphics Magazine, the leading title in Asia serving the graphic design industry; Computer Reseller News, published biweekly, the leading IT title for the IT distribution channel market; and Information Week, Australia's foremost IT business newsmagazine. Computer Reseller News and Information Week are published by DWR under license from CMP Media, Inc. DWR also produces the leading IT Australian Web sites, IT News and IT Graphics. Following the acquisition, the new company will be known as Penton Media Australia.

"A key component of Penton's growth strategy is to expand our business globally," said Chairman & CEO Thomas L. Kemp. "This acquisition gives us a solid foundation in Australia from which we expect to build a significant media portfolio for the pan-Asia region."

Penton has been producing events in Australia since 1995. Under the auspices of Penton Media Australia, the former DWR team will continue to manage Penton Media's Internet World, ISPCON, ASPCON, and m-CommerceWorld events in Australia and New Zealand. Penton Media Australia also will publish Internet World Australia.

"We believe that DWR's strong IT properties give us a solid foundation on which to build a dominant media business in Australia while establishing a firm base on which to quickly expand print and online products into the English speaking pan-Asian marketplace," said Michael Westcott, managing director, Penton Media Asia. Penton Media Asia currently produces 21 events throughout the Asia/Pacific region and publishes Internet World Asia magazine.

David Richards, founder and CEO of DWR Media said, "Building on our successful Australian publications and Web sites, our plan is to rapidly deploy publications like Windows 2000 Magazine and iTgraphics Magazine into additional Asian markets. We also will develop new events and publications, based on established Penton brands such as m-CommerceWorld, and Streaming Media." He added, "One of the core assets we bring to Penton is our powerful editorial team. They have earned a reputation for delivering powerful, award-winning, relevant editorial that attracts eyeballs to our magazines and Web sites. This, coupled with our unique databases, marketing and sales skills, puts us in a strong position to expand Penton's reach into the pan-Asian IT marketplace."

DWR, based in Sydney, Australia, was founded in 1995. The company has grown from a five-person operation to today employing more than 45 full-time employees.