LONDON (AFX) - United Business Media said it has bought the events assets MediaLive International Inc for 65 mln usd and US events business Shorecliff Communications for 12.3 mln usd.
It said the acquisition of MediaLive's assets will create an enhanced media suite targeted at the IT enterprise market worldwide. In 2006 the MediaLive events are expected to generate revenue of around 40 mln usd.
Chief executive of United Business Media, David Levin said: "The acquisition of MediaLive's event assets illustrate how UBM is building leading positions in its key markets by adding events that complement its existing product offering, enabling it to better serve its customers."
In a separate statement UBM said it has also bought Shorecliff Communications, which is expected to generate revenue of around 6 mln usd in 2006.
Shorecliff's four principal events focus on the high growth markets of radio frequency identification, broadband services, wireless infrastructure and telecoms television/Internet Protocol television, UBM said.
Levin added that both businesses meet UBM's 8 pct post tax cost of capital acquisition business case criteria.
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It said the acquisition of MediaLive's assets will create an enhanced media suite targeted at the IT enterprise market worldwide. In 2006 the MediaLive events are expected to generate revenue of around 40 mln usd.
Chief executive of United Business Media, David Levin said: "The acquisition of MediaLive's event assets illustrate how UBM is building leading positions in its key markets by adding events that complement its existing product offering, enabling it to better serve its customers."
In a separate statement UBM said it has also bought Shorecliff Communications, which is expected to generate revenue of around 6 mln usd in 2006.
Shorecliff's four principal events focus on the high growth markets of radio frequency identification, broadband services, wireless infrastructure and telecoms television/Internet Protocol television, UBM said.
Levin added that both businesses meet UBM's 8 pct post tax cost of capital acquisition business case criteria.
newsdesk@afxnews.com vjt/slm
COPYRIGHT
Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content,inculding 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
For more information and to contact AFX: www.afxnews.com and www.afxpress.com
© 2006 AFX News
