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Trade Groups Talk Merger
Written by Administrator
Monday, 15 September 2008
WASHINGTON, DC – Two top electronics trade groups are talking merger in what would become the nation's largest tech trade group, boasting more than 2,600 member companies and annual revenues of more than $26 million.
The AeA (formerly the American Electronics Association) and the Information Technology Association of America announced discussions to merge the trade associations' memberships and programs.
In a statement, the respective boards said combining forces would provide members with additional benefits and services, including "unprecedented capabilities in lobbying, business and capital development, business services, elite networking, market forecasting, standards development and research."
AeA has 2,400 corporate members and focuses on lobbying at the state, federal and international levels. Its 2006 revenues, the last year for which records are available, were $19.4 million. ITAA has 360 members and concentrates on business development, public policy advocacy, market forecasting and standards development. Its 2006 revenues were $5.9 million. Combined, the groups spent $2.25 million to lobby the federal government in 2007, according to required filings, and have been increasing their contributions this year.
"Together we would be the national technology association, unrivaled in size and clout," said ITAA Chairman Hank Steininger, a managing partner at Grant Thornton. "With a new Administration and Congress on the horizon in Washington, it's critical for the industry to present a united front."
"Convergence, consolidation, and the change brewing in Washington require us to speak with a louder, clearer voice," said AeA chairperson Deirdre Hanford, a senior vice president at Synopsys Inc.
ITAA was a formerly partner in the Electronics Industries Alliance. That group of four associations splintered in mid 2006.
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