Dec 31 2009
Global Sources (Nasdaq: GSOL) announced eMedia Asia Limited, a joint venture between Global Sources (60%) and United Business Media (40%), acquired a 70% interest in the China International Optoelectronic Expo (CIOE) from United Business Media for a net cash consideration of approximately US$5 million. The remaining 30% interest in CIOE continues to be retained by the other current joint venture co-owner, Shenzhen Herong Exhibition Industrial Co., Ltd.
CIOE is China's largest optoelectronics event. Established in 1999, it is held annually in Shenzhen, a key optoelectronics industry center in China. The event covers all aspects of the segment, including laser and infrared applications, precision optics, optical communications and LEDs. The 2010 event is scheduled to be held from September 6th to 9th. The 2009 event hosted over 2100 exhibitors.
Global Sources' chairman and CEO, Merle A. Hinrichs, said: "Optoelectronics is an exciting growth market that is core to China's electronic product development. According to the China Optics and Optoelectronic Manufacturers Association (COEMA), the production value of China's optoelectronics industry is expected to increase to US$45 billion by 2010, or 10% of the global market share. With its majority interest in CIOE, eMedia's portfolio of media products for the Chinese electronic engineering community further complements Global Sources' own multi-channel media network that is relied upon by more than 500,000 professionals throughout China's electronics industry. We believe this network, combined with our extensive presence in China, has great potential to contribute to CIOE's growth and success in the years ahead."
Global Sources' portfolio of trade show brands includes China's largest event for electronic systems design, International IC-China Conference & Exhibition, which is co-located with Components Zone, the leading electronic design print and online networks, EE Times-China and Electronic Design-China, and Electronics Supply & Manufacturing-China which extends complete industry information to China's procurement managers in print, online and via component cataloging.
Source: http://www.globalsources.com/