Conference and exhibition organiser ITE Group has announced that its wholly-owned subsidiary, International Trade and Exhibitions, acquired a 75 per cent stake in Trade Link, a Malaysian-registered company, for around 4.0m pounds.
Trade Link runs a number of events that take place together annually at Kuala Lumpur's Putra World Trade Centre.
Revenue generated from the entire business is expected to be around £2.0m in 2013 full year and the acquisition is expected to be earnings enhancing in this financial year.
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The remaining 25% of Trade Link is held by exhibition industry entrepreneur Albert Lai who remains the Chief Executive Officer of the company.
ITE's Chief Executive Russell Taylor said: "This acquisition is a strategic move for ITE into the South East Asian exhibition market. Trade Link operates some of South East Asia's key events in our strongest sectors which are expected to realise good growth in the future.
"We are very pleased to have retained the services of Albert Lai who created these events and we will be working closely with him to grow them."
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