Penton Media to Acquire Duke Communications

Posted on August 30, 2000

Penton Media, Inc. has announced it has entered into a definitive agreement to acquire Duke Communications International, a media company serving the AS/400 and Windows 2000 operating systems markets, and other technology operating platform markets. The acquisition is subject to regulatory approval.

Duke Communications publishes five magazines in the United States, and one title in the United Kingdom, including flagships Windows 2000 Magazine, NEWS/400 and Business Finance. Based in Loveland, Colorado, Duke was founded in 1982 and has approximately 300 employees.

``Duke Communications is an outstanding addition to Penton Media's existing technology media portfolio, which includes the global Internet World franchise,'' said Penton Media Chief Executive Officer Thomas L. Kemp. ``Duke is one of the fastest growing technology B2B media companies in the United States and holds strong leadership positions in each of its target markets. It has been particularly successful in leveraging its brands and respected, authoritative content to build a successful Internet business.''

Kemp said that Penton plans to leverage Duke's brands into a larger in-person media offering. ``We envision applying Penton's deep experience in producing technology-related trade shows, such as our global Internet World trade show portfolio, to expand Duke's current event business,'' he said.

``Joining Penton Media is a great step forward for Duke Communications,'' said CEO Dave Duke. ``Penton has a terrific management team, an outstanding array of leading publications, and a culture consistent with our own. We consider ourselves fortunate to be joining Penton, given its strengths in print, electronic publishing, and trade shows and conferences. We hope to become an important part of Penton.''

Penton expects to complete its acquisition of Duke Communications by the end of September. Kemp said Duke's current management will remain and that they will continue to operate from Loveland. Duke will become part of Penton's Advanced Technology Media division.



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