Iconix Brand Group has sold the rights to the Sharper Image brand and related intellectual property assets to the company that recently bought FAO Schwarz from Toys “R” Us. Iconix sold Sharper Image to ThreeSixty Group, which manufactures and distributes toys and other consumer products to stores nationwide, for $100 million in cash. ThreeSixty is also Sharper Image’s largest licensee. Sharper Image filed for Chapter 11 bankruptcy protection in 2008 and subsequently closed its stores nationwide. It continued to sell online and through other retailers. In 2011, Sharper Image’s brand and intellectual property assets were acquired by Iconix for $65.6 million in cash. click Read More below for more of the story
Group adds Balance and Breadth with acquisition of Penton, further strengthening Global Exhibitions and Business Intelligence Divisions and expanding US presence
Informa (LSE: INF.L), (“Informa”), the international Business Intelligence, Exhibitions, Events and Academic Publishing Group, has completed the £1.2bn acquisition of Penton Information Services, the leading independent US Exhibitions and Professional Information Services group.
The acquisition, which has met all outstanding conditions, forms part of Informa’s 2014-17 Growth Acceleration Plan, designed to build platform capabilities, add market-scale and deliver sustainable growth across the Group.
As stated at the time of the acquisition announcement in September, the Board of Informa believes the combination with Penton is commercially and financially compelling, with a strong portfolio fit that significantly strengthens the Global Exhibitions and Business Intelligence Divisions and improves the Group’s long-term growth prospects.
Penton will add around 30 Exhibitions and increase the number of tier-one US Brands to 16 of the Top 250 Exhibitions.
Penton brings more than 20 attractive digital subscription data Brands and a portfolio of 100+ print and digital B2B insight products.
Penton also brings a range of Branded content and large-scale engagement platforms, mainly in the TMT vertical, which will be combined with the Knowledge & Networking Division.
The combination will also lift the proportion of Group revenues denominated in US Dollars or currencies pegged to the US Dollar to 65%.
Patrick Martell, Chief Executive of the Business Intelligence Division, has now assumed the additional role of Chief Executive and Integration Officer for Penton.