Penton Acquires iNET Interactive with Events, Web and Data Services
January 19, 2015
Penton has acquired iNET Interactive, an event and digital information company that focuses on the cloud, hosting and data center segments of the technology sector and includes HostingCon and Data Center World trade shows.
These segments are expected to experience annual growth of 25-30 percent in the years ahead, according to industry experts.
“A core element of our strategy is creating scaled positions in advantaged sectors. This acquisition doubles our tech sector footprint, and does so in exceptionally fast growing segments. The acquisition of this high quality business allows us to take immediate advantage of the rapid growth being experienced in this segment,” said David Kieselstein, Penton CEO.
He added, “Moreover, we’ll be able to accelerate iNET’s growth as we leverage our excellent shared service growth capabilities. This is a proven model at Penton, and we’re excited to have found a perfect fit in iNET.”
Here are some of the assets included in the acquisition:
Cloud and Hosting
• The premier hosting tradeshow series (HostingCon), including events in the U.S., China, India and Asia
• The largest online hosting and cloud community (Web Hosting Talk) and leading blog (The WHIR)
• The largest directory of resources for web developers
• One of the largest database administrator communities with over 550,000 members
Data Centers
• The leading data center tradeshow series (Data Center World)
• The leading position in the Data Center content industry (Data Center Knowledge)
• The largest data center industry association (AFCOM) with over 40 chapters and 4,500 data center members worldwide, including more than half of the Fortune 500
iNET also strengthens Penton’s fast growing marketing service business with access to data and insights from a combined 7.8 million highly targeted business and technology decision makers.
“The iNET team has worked diligently to build iNET into the strong company it is today. We are proud to have been recognized for seven consecutive years on the Inc. 5000 list of fastest-growing, private companies,” said Troy Augustine, iNET CEO.
He added, “Now, as a part of Penton, iNET will have access to a broad array of corporate capabilities that can be leveraged quickly and effectively. Simply put, Penton can take iNET to the next level of growth.”
iNET will join other leading Penton Technology properties such as MSP Mentor, The VAR Guy and IT Connections franchise that serve IT Professional, IT Channel and Business Decision Makers under the leadership of Penton Group President Sanjay Mutha, as Augustine transitions from the business. “Troy has built an excellent business, and I know he will have continued success as he moves to his next entrepreneurial venture,” said Mutha.
Penton has made several other acquisitions during the past few years, including the Farm Progress Group in 2012 via Fairfax and Aviation Week in 2013 via McGraw Hill Financial.
Other trade shows in the Penton portfolio include New Hope Natural Media’s Natural Product Expos East and West.
SunTrust Robinson Humphrey acted as exclusive financial advisor to iNET Interactive. The financial terms of the transaction were not disclosed.
Partner Voices
MGM Resorts is renowned for its exceptional service and diverse venue options across Las Vegas, Detroit, Springfield, National Harbor, Biloxi, and Atlantic City, providing flexible spaces for meetings of any size. Beyond these offerings, MGM Resorts distinguishes itself through a strong commitment to social responsibility and sustainability, making it an ideal choice for your next meeting.
At the core of MGM Resorts' company values is its platform, "Focused on What Matters," dedicated to meeting customer needs while advancing socially responsible practices. This commitment is evident in several key areas:
Protecting Natural Resources
MGM Resorts is home to industry-leading recycling, renewable electricity and water conservation programs. Some highlights include a cogeneration power plant at ARIA, producing ultra-efficient electricity; one of America’s largest contiguous rooftop solar arrays atop the convention center at Mandalay Bay; and onsite wells that provide water for the celebrated Fountains of Bellagio, avoiding reliance on precious Colorado River water. These efforts and many more save on natural resources while boosting attendee satisfaction.
Committed to Community
Always striving to be good neighbors, MGM Resorts works to avoid food waste and combat food insecurity with the Feeding Forward program. In partnership with local food banks, they safely divert unserved food to food insecure members of the community. Since 2016, over 5 million meals have been provided, highlighting MGM Resorts' commitment to minimizing food waste and addressing community needs.
MGM Resorts supports clients in their responsible-meetings efforts, not only with efficient venues but also waste-reducing décor and signage; sustainable food and beverage options; and outreach to help planners communicate sustainability efforts to attendees. What’s more, they offer a Mindful Meetings series that puts attendee wellness first—through fitness and mindfulness activities, and in give-back events with local charity organizations.
Fostering Diversity & Inclusion
To MGM Resorts, a diverse and talented workforce is essential to success. By cultivating innovative strategies that consider multiple perspectives and viewpoints, the company creates an inclusive workplace culture that benefits its employees and community. MGM Resorts takes pride in being a welcoming home for veterans, individuals with disabilities, people from diverse backgrounds, LGBTQ+ community members, and more. This commitment to inclusion is reflected in the company's recruitment and hiring practices and its social responsibility initiatives. From the workplace to the community, MGM Resorts' commitment to diversity, equity and inclusion remains unwavering, and its efforts continue to create a more equitable and sustainable world for all.
MGM Resorts offers unparalleled service and venue options while standing out for its proactive approach to sustainability and community engagement. Choosing MGM Resorts for your next meeting means aligning with a company that values social responsibility, efficiency, and attendee satisfaction, ensuring a meaningful and impactful event experience.
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