May 15, 2008

Tip of the Week: Take the mystery out of acquiring a new show

When Kerry Gumas, President and CEO of Questex, gets close to closing an acquisition deal, he sits down with those that will remain with the event to talk about his analysis of the event and future goals. This working session on the management plan for the first 100 days includes how people and resources at both Questex and the acquired organization will be utilized, and what milestones will be achieved. “We do this specifically before closing because it’s a way to eliminate potential sources of disagreement, disappointment or misunderstanding later on,” he says. “Everyone understands how we’re looking at the business, and that goes a long way in taking some of the mystery out for the entrepreneurs who remain with us. It becomes as much their plan as our plan — we remove ‘them’ and ‘us.’ ” To learn more about successfully integrating acquisitions, read: Why Acquisitions Fail in the May issue of EXPO.