Thursday, June 30, 2011

Reed Business Information acquires Ascend Worldwide Group, will be merged into RBI's Flightglobal

While the U.S. holdings of Reed Business Information have been divested to a minimum of properties, the UK division is in an acquiring mood today announcing that they have "acquired the entire issued share capital of Ascend Worldwide Group Holdings Limited."
Ascend will be rolled into RBI's aerospace business, Flightglobal.

Ascend is a 46-year old company that has offices in Hong Kong and New York, and lists as its areas of expertise aviation finance and insurance; aircraft manufacturing; aircraft leasing, airport investment and space.
The company has been run by CEO Gehan Talwatte. "I am very excited about the opportunities that the combination of Ascend and Flightglobal will bring." Talwatte said in the announcement release. "By combining our insight and expertise with Flightglobal's growing global audience, distribution capabilities and unrivaled media presence, we can significantly extend the reach of the Ascend brand."

"Ascend brings to Flightglobal an impressive position in the global air finance market," said Jane Burgess, RBI managing director. "This exciting acquisition adds important new data assets and expertise to Flightglobal's existing aviation data business and provides Ascend with access to Flightglobal's powerful global aviation audience and extensive marketing capabilities."


Anonymous said...

Any word on how the divested RBI-US properties are doing?

Douglas Hebbard said...

Folio ran this story two weeks ago on the properties, though it was more of a typical Folio puff piece than any real examination of the properties post-RBI.

Anonymous said...

Thanks for the link. Interesting, albeit a puff piece. Hopefully there will be more info in coming months.