Global Sources Sells 60.1% Interest In EMedia Asia Limited Subsidiary To UBM

(RTTNews) - Global Sources Ltd. (GSOL) Wednesday said it has sold its 60.1 percent interest in its eMedia Asia Limited subsidiary to UBM Plc., the 39.9 percent shareholder, for $9.0 million in cash, subject to adjustments for cash and working capital.

eMedia's business includes the China International Optoelectronic Expo and print and online publications serving Asia's electronics community, namely various Asian editions of EE Times, Electronics Supply & Manufacturing and EDN.

Global Sources' executive chairman, Merle Hinrich, said: "The sale of eMedia is consistent with our strategy to focus on our strong core business of cross border B2B trade and address the markets we believe offer the greatest opportunity for growth."