Euromoney acquires TowerXchange business
13 December 2017 | Jason McGee-Abe
Capacity Media's parent company has added to its telecoms portfolio by acquiring TowerXchange, the business behind telecom tower events such as Meetup Asia 2017 in Singapore.
Euromoney Institutional Investor PLC, a FTSE 250 telecom and investment business intelligence and events leader, has acquired 100% of the equity in Site Seven Media, which trades as TowerXchange. The deal was announced on Monday 4 December.
The acquisition of TowerXchange by Euromoney places the world’s leading community for telecom towers alongside the leading communities for wholesale carriers, cloud, data centres and network transformation, part of a unique portfolio of business intelligence products and events focused on connectivity infrastructure.
Euromoney’s telecom and technology division, of which TowerXchange will now be part, also organises the annual International Telecoms Week (ITW), while the portfolio also includes the long-established series, Capacity Conferences, organised by TelCap and the respected source of information for the international carrier market, Capacity Media.
TowerXchange, which has established itself as the leading source of business intelligence and events for the $300 billion global telecom and broadcast tower industry, will retain its commitment to dedicated coverage of the passive infrastructure space, while offering its community members increased access to the intelligence and insights from these adjacent verticals.
Ros Irving, Euromoney Divisional Director responsible for Euromoney’s telecoms businesses, said: “TowerXchange is an excellent business which serves an increasingly important part of telecoms infrastructure. It is strategic for Euromoney because it is highly complementary to the markets served by TelCap, BroadGroup (in which we invested in March) and Layer123 (acquired in April). We look forward to working with the expert TowerXchange team.”
The existing TowerXchange management team will all be staying on and transitioning to Euromoney. TowerXchange will maintain its unique focus on the global telecom tower industry, enhanced by the relationships, footprint and business intelligence expertise of Euromoney, which owns some of the world’s most respected investment journals and connectivity infrastructure events.
The heart of the TowerXchange community are annual Meetups for tower industry leaders in Africa and the Middle East, Central and Latin America, Asia and Europe, which attract over 1,000 attendees. Local events for the emerging tower markets in China and MENA are under development.
Founder Kieron Osmotherly will be staying on as CEO of TowerXchange, along with his management team. Osmotherly added: “TowerXchange are excited to be joining the Euromoney family, enabling us to extend our events’ growth trajectory, cultivate new business intelligence services, and expand ours and our customer’s insights into adjacent segments of telecom infrastructure."
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