FT is reporting that VNU, the Dutch publisher, is close to a sale of VNU Business Media Europe (VNUBME) to 3i, the private equity group, for more than $420 million. This comes after a few months of deliberations on it.
VNUBME’s assets include UK trade magazines such as Computing and Accountancy Age, and events such as the Holland Art Fair. It also has significant online assets, including tech news site VNUnet in UK and equivalent sites in France, Germany and Italy. Around 25 percent of BME’s ad revenue is generated online. VNUBME has itself made some small online acquisitions over the last year.
The story says that the most profitable and attractive business in the auction was the Intermediair career development title in the Netherlands, which has established a market leading position in print and a strong online presence. 3i has previously bought classified advertising titles with strong digital businesses.
Related:
—VNU Europe Buys Dutch Tech Site Tweakers.net
—VNU Buys Silicon.Fr
—VNU Buys Inquirer Tech News Website