Saturday, 16th January 2015.
15th PALM Expo 2015, Mumbai, organised by ABEC (ITE)
Bombay Exhibition Centre, Mumbai, May 28-30, 2015
Diversified India, headquartered in Portland, Maine USA transferred the ownership of the globally reputed PALM expo to London based ITE Group PLC’s Indian subsidiary in January 2015.
The PALM Expo witnessed robust growth under the ownership of Diversified India, wholly owned subsidiary of Diversified Communications, USA. PALM experienced five years of successive expansion of exhibit space and increase in trade and professional visitors to the show – 6,000 in 2009 to 20,000 in 2014.Matthew Pearce, Chairman, Diversified USA, announced Diversified’s decision to divest its portfolio in India “While we do believe entirely in India’s growth story, the investment climate is challenging both in infrastructure and regulation; so despite an exemplary performance by Diversified India and bright performance of the PALM expo and trade magazines, our strategy for growth in Asia does not have synergy with the Indian marketplace. Therefore Diversified is focused in expanding its portfolio in south-east-asia and are glad in handing the baton to ITE, UK to take the PALM Expo and the pro sound and studio magazines forward. The best interests of the Indian sound and light industry are kept in mind in our decision.”
Anil Chopra, Managing Director, Diversified India, announced the future plans for the trade show: “PALM is today a strong and influential industry platform, serving the interests of the global industry in sound and light technology. It has been Diversified’s privilege to expand the PALM to its present stature as one of the most respected and reliable events assuring very high standards and international quality to its exhibitors and industry professionals in India. Diversified in its global strategy is transferring the ownership of PALM and Music Expo to International Trade Exhibitions (ITE) India, and its partner ABEC. I am more than confident PALM will continue to grow with ABEC’s dynamism in promotion and assured management under Manish Gandhi, promoter and COO. Moreover, we are convinced about PALM’s tremendous support earned from the industry, its 14 years of legacy pride, defined potential of India’s stage show business and rapid expansion of the Indian economy.”
Kim Willis, CEO, ITE (India) states, “ITE is excited in the ownership of the PALM Expo and the reputed magazines, both Pro Sound Systems and Studio Systems, all products that enjoy an excellent reputation and present an exciting opportunity to us in our expansion in India into a vibrant segment. We do believe our sense of commitment and the energy which we bring to events we invest in will drive PALM to a meaningful trade show. ABEC will manage PALM Expo and magazines, and the ethos of strengthening the industry and providing growth with focus on business visitors is a proven track record with ABEC and ITE. We carry the entire PALM team with us and are more than glad in doing so.”
Manish Gandhi, COO, ABEC Exhibitions & Conferences Private Limited , commented “ABEC is excited to work with the existing PALM management team to take the business to new heights.” He confirmed The show will retain all its features and venue exhibit halls - Concurrent with the Music Expo and the PALM Conference, the IRAA and Sound and Light Awards, Live Arena, the DJ Championship and DJ Soundscape.
For further information on PALM Expo:
ABEC Exhibitions & Conferences Private Limited
Ramesh Chetwani, Exhibition Director,
rchetwani@palmexpo.in
For further information on Diversified Communications India Pvt. Ltd.:
Anil Chopra, Managing Director,
Diversified Communications India Pvt. Ltd.
achopra@divcom.in
www.divcom.in
+91 9820935543.
|
|
