Publishing group, United Business Media (UBM), has bought three online and events companies for $56.5 million, adding on to its existing industry businesses.
The company has acquired online publishing, live events and research/analysis group, Light Reading Inc for $24 million, US chemicals events business Informex for $24 million and online electronics business media platform TechOnLine for $5.5 million.
Commenting on the purchases, David Levin, chief executive officer of UBM, said: “‘These acquisitions will strengthen UBM in three industry verticals within which we already have a significant presence.”
He added: “Each acquisition will deepen and enrich the offering we are able to provide our customers.”
Last month, UBM reported half-yearly results ahead of expectations, predicting further growth in the second half of the year and standing optimistic in the face of a “tough market” for print titles (see UBM Reports Profits Ahead Of Expectations).
The company, which recently sold its 35.4% shareholding in Five for £247.6 million, saw profits rise by just over 30% year on year to £81.3 million (see RTL Seizes Full Control Of Five).
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