DUBM Acquisition Adds to ITE’s Presence in Indonesia
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ITE has further expanded its business in Southeast Asia after signing a binding contract to acquire 50% of the shares in PT Debindo Unggul Buana Makmur (DUBM), owners of the Indobuildtech Expo series of exhibitions in Indonesia. The completion of the acquisition is subject to the approval of the Indonesian Investment Coordinating Board – BKPM.
The largest of the Indobuildtech Expo events is held annually in June in the capital, Jakarta. It is approximately 12,000m2 net and attracts over 33,000 visitors. Other events in the series are held in Surabaya, Bandung, Makassar and Bali.
Indobuildtech Expo will join the ITEBuild&Interiors portfolio, which includes events such as MosBuild (Moscow, Russia), Yapi – Turkeybuild (Istanbul, Turkey), KazBuild (Almaty, Kazakhstan) and Acetech (Mumbai, India).
Director of ITEBuild&Interiors, Stephen Keen said. “This is a welcome addition to our portfolio. The events are well-organised, established, respected and operate in a rapidly developing market. I am also delighted that the original shareholders are staying with the business and we’re looking forward to developing the partnership to continue improving and growing the Indobuildtech Expos.”
ITE’s CEO, Russell Taylor also commented. “This acquisition delivers on two strategic fronts for us. It further strengthens our market position in the building & interiors sector which is our largest single vertical market and one in which we have considerable depth of knowledge and expertise. Secondly, it adds to our presence in the region’s largest market – Indonesia. It is a country with a strong economy and immense potential”.
The next edition of Indobuildtech Expo will take place on 11 to 15 June at the Jakarta Convention Center.