ITE Acquires Diversified’s Indian Entertainment Technology Shows
The ITE Group announced the acquisition of Diversified Communications’ India-based entertainment technology portfolio for an undisclosed amount. The co-located events, PALM Expo and Music Expo, along with two publications, Pro Sound Systems and Studio Systems, will be managed by ITE’s Indian partner company, Asian Business Exhibitions and Conferences (ABEC).
The 14th edition of PALM Expo was held in May 2014 and attracted some 144 exhibitors and 20,000 visitors. This year’s PALM Expo and Music Expo will run from 28th to 30th May at the Bombay Exhibition Centre.
Russell Taylor, chief executive of ITE, commented, “We have a growing business in India and we’re committed to further strengthening our position in Asia as well as expanding the diversity of the sectors that we cover globally. The PALM portfolio fits well with our strategic growth plans.” Manish Gandhi, COO of ABEC, added, “We are excited to work with the existing PALM management team to take this exciting portfolio to new heights.”
Until recently, the opportunity to have a celebrity attend an event, attach themselves to a name-brand or endorse a certain product or idea was untouchable. The thought of paying a person to promote a product was seen as something only Fortune 500 companies could afford. Social media has changed all that with brands and businesses utilizing celebrity influencers to connect directly with their demographics and increase sales and profits.