Apollo-managed funds have entered definitive agreements to acquire and merge B2B media firms Emerald Holding and Questex. The all-cash transaction, valuing Emerald at approximately $1.5 billion, seeks to create a dominant North American experiential platform featuring 160 annual events and year-round digital engagement.
Apollo Global Management has announced plans to acquire and combine Emerald Holding, Inc. and Questex, LLC to establish a comprehensive B2B media and experiential events platform. According to official disclosures, Apollo funds will pay $5.03 per share to take Emerald private, a 42.1% premium over its unaffected price, implying an enterprise value of $1.5 billion.
Apollo is a high-growth alternative asset manager, while Emerald and Questex are leading providers of business exhibitions, specialized content, and digital marketing services. This consolidation is significant as it merges Emerald’s large-scale exhibitions with Questex’s expertise in 365-day digital engagement. The move highlights a strategic shift in the professional services sector, where the rise of artificial intelligence and digital tools is paradoxically increasing the premium on high-value, in-person gatherings.
By integrating these entities, Apollo intends to create a scaled operator capable of providing year-round community engagement in a fragmented market previously dominated by localized or niche providers. For the B2B media, marketing, and hospitality industries, this merger represents a significant consolidation of influence over industry-specific trade shows and corporate networking. The impact will be felt across diverse end markets as the combined entity leverages broader resources to accelerate digital integration and organic growth.
For investors and market participants, the take-private transaction signals strong institutional confidence in the resilience of face-to-face commerce. The merger, expected to close in the second half of 2026, positions the new platform as a primary strategic partner for industry stakeholders seeking sophisticated, data-driven event solutions and long-term capital support.
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