United Business Media (UBM) has announced the purchase of US events business Shorecliff Communications for $12.3 million, and the events assets of MediaLive International for $65 million.
The acquisition of Shorecliffe will see the company’s four principal events focussing on the high growth technology markets of radio frequency identification, broadband services, wireless infrastructure and telecoms television/IPTV integrated into UBM’s business plan.
Commenting on the deal, David Levin, chief executive of UBM said: “The acquisition of Shorecliffe reflects UBM’s continuing commitment to acquiring bolt-on, complementary assets that develop and enhance our existing businesses while also achieving our post 8% tax cost of capital hurdle.”
Turning to MediaLive International, the transaction will add more than 20 IT and telecoms related events in the US, Japan and Europe, most notably Interop, MediaLive Japan, Voicecon and Web 2.0 to CMP’s enterprise IT enterprise platform.
Steve Weitzer, chief executive of CMP Media said: “The competition of the MediaLive assets with CMP Media’s industry-leading publications, significant online investments and vertical market events will offer technology vendors the most comprehensive marketing solutions available in the industry.”
At the end of last year, UBM issued a trading update, informing investors that, while the company continued to meet expectations, growth within the print sector is becoming “challenged” (see UBM Meets Expectations Despite Pressure In Print).
The company stated that its difficulties were in line with the industry, however, explaining that other sectors such as exhibitions, online and news distribution has seen profitable underlying revenue growth.
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