LONDON (AFX) - United Business Media PLC (UBM) has acquired Commonwealth Business Media, Inc. for 152 mln usd.
The acquisition is anticipated to meet UBM's 8 pct post tax cost of capital criteria in 2007.
Commonwealth is a specialist business intelligence provider to the international trade and transportation industry with more than 85,000 individual customers. Commonwealth employs around 400 people and in the year to September 2005, Commonwealth had revenues of 55.6 mln usd and EBITDA of 12.0 mln usd.
Commonwealth will be integrated into UBM as a new division with Alan Glass, Commonwealth's chief executive officer continuing in his role and joining UBM's senior executive team. newsdesk@afxnews.com joy COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
© 2006 AFX News
