Interbike and Outdoor Retailer parent company Nielsen Holdings has agreed to sell its Nielsen Expositions division, which contains the action sports specific trade shows, to Onex for $950M, according to several news sources. Onex Corp, a Canadian private equity firm, saw shares jump 1% today to C$50 on the Toronto Stock Exchange, according to the Chicago Tribune:
“Divesting the expositions business allows us to focus on these core areas that provide our clients with a comprehensive understanding of consumers,” Nielsen Chief Financial Officer Brian West said in a statement on Monday.
Nielsen shares rose as much as 2 percent on the New York Stock Exchange on Monday.
The deal with Onex comes about five months after Nielsen said it would buy radio ratings company Arbitron Inc for $1.26 billion in a deal that would create a powerhouse, placing the measurement of audience for TV and radio under one company.