Tarsus Regulatory News (TRS)

12 Jul 2007 07:00

Tarsus Group PLC12 July 2007 TARSUS GROUP PLC ACQUISITION 12 JULY 2007 Tarsus Group plc, the international business-to-business media group withinterests in exhibitions, conferences, publishing and online media, has todayannounced the acquisition of DMS Group LLC which owns and operates the US-basedwebsite www.CVBHotRates.com (CVB). CVB is a leading brand in the rapidly-growingglobal meetings and events industry and will be incorporated into the Tarsus'on-line Media portfolio. Tarsus will pay an initial cash consideration of $500,000 (approx. £249,000)with further cash payments based on the profits of CVB in the 2 years to 30 June2009. The total cash consideration is capped at $1.65 million (approx.£821,000). Unaudited revenue and profit before tax for the year to 31 December2006 were $241,000 (approx. £120,000) and $117,000 (approx. £58,000)respectively. This acquisition is in line with the Group's strategy to strengthen its onlinebusiness in the events industry internationally. Tarsus already has a broadportfolio of on-line products specifically designed to help the conference,exhibition and events industry find products and services for their variedrequirements. Existing websites in the portfolio include: www.TSNN.com,www.TSNN.co.uk, www.venues.org.uk, www.events:review.com andwww.exhibitions.co.uk. CVB was founded in 2004 and is expanding rapidly, attracting over 20,000 uniquevisitors each month. The website provides a unique and fast service for eventplanners to find and book venues. CVB has a large network of venues with over 40convention centres and 2,500 hotels listed on the site. Donovan Shia, thefounder of CVB, will continue to work with Tarsus to develop the business. Douglas Emslie, Group Managing Director of Tarsus, said: "We're delighted to seethe CVB brand join our online portfolio. We are continuing to build this area ofour business and have seen particularly strong growth in the venue-findingwebsites. With our recent acquisition of TSNN.com and our activities in the UKand France, we look forward to servicing this global community with even moreexciting products and services." For further information, please contact: Tarsus Group plc:Douglas Emslie, Group Managing Director: 020 8846 2700 Media:Matthew Moth, Madano Partnership: 020 7593 4000 Investors/Analysts:Neville Harris, IRfocus: 020 7593 4215 This information is provided by RNS The company news service from the London Stock Exchange