Forum Media Group, a media company specialized in information, education and entertainment with headquarters in Bavaria and Germany, has acquired 80% of Hong Kong and Singapore's Lighthouse Independent Media to enter the Asia market.
Financial details were not disclosed. Forum bought the stakes from Lighthouse's owners Justin Randles and Tony Kelly, who have retained a 20% interest in the company and will continue their roles to help grow the company within Forum.
Lighthouse was established 15 years ago by the two founders and is a B2B media and events business servicing the advertising, marketing and human resources sectors. Its products and services include magazines, websites, newsletters, conferences, awards and training.
"since the establishment of Lighthouse in 2002, we have grown a business through creativity and innovation and now host some very special events for the advertising & marketing and human resources communities," said Justin Randles, Group Managing Director of Lighthouse, in an announcement.
"We are all very excited about the partnership with Forum and the opportunities for the business and our staff. We will continue further growth and expansion, driven by a common vision and a strong belief in success," he added.
Forum publishes print and digital offerings in the specialist B2B and consumer sectors. It operates in 15 countries employing around 1,000 people. The product range includes print and online media as well as software products and professional training.
"Lighthouse is a terrific addition to the Forum group and we have plans to continue the growth and expansion of Forum in Asia, both within Lighthouse’s existing range of products and business fields, and into new sectors," said David Gardiner, Forum’s representative.