IIR has held the management contract for Ipex, the world's largest English-speaking print and publishing event, since 1998 and owns a number of other national print shows, including Digital Print World, Northprint, Flexo and Newstec.

IIR managing director Nicky Mason said the acquisition, the value of which was not disclosed, would enable the show organiser to expand the Ipex brand to other events and countries. "We are delighted that we have had the opportunity to acquire Ipex and further expand our portfolio," she said.

"The move demonstrates IIR Exhibitions' commitment to the print industry and underpins the other events in our portfolio. It is our intention to carefully research the potential for Ipex-branded events, probably dedicated to specific sectors of print, throughout the world," Mason added.

Picon chief executive John Brazier said the sale would secure the future of the organisation. "For Picon, this decision represents a significant step forward for the organisation's future financial stability and will enable Picon to maintain its wide-ranging services and support packages for its members and its influence across the sectors it represents," he said.

Picon is dedicated to the promotion and development of UK manufacturers and suppliers to the print and paper industries and is the driving force behind the PrintIT! initiative, which aims to bring more youngsters into the industry.