Istanbul, Turkey – Tarsus Group has acquired a 75% stake in the Turkish trade show organizer IFO Istanbul Fuar Hizmetleri in a deal valued at up to £10 million ($16.2 million). Tarsus Managing Director Douglas Emslie said the growing Turkish economy and its historic crossroads location presented Tarsus with the opportunity to both expand the IFO Istanbul shows and introduce Tarsus brands to the Turkish market.
IFO Istanbul has a portfolio of three trade shows:
– Sign, for the outdoor advertising and visual communications industry
– REW, for the recycling industry
– Asansor Istanbul, a biennial event for the elevator industry
Tarsus, which also announced a £16 million ($26 million) stock placement to raise capital, said the acquisition was part of its “50/13” strategy to boost the company’s revenues from emerging world markets to 50% by 2013. Last week, Tarsus said it was priming itself for the strongest six months of its show cycle with forward bookings at 75% of anticipated full-year revenues.
Reach Douglas Emslie at +44 (0) 020 8846 2700 or firstname.lastname@example.org