31st Jul 2014 13:41
LONDON (Alliance News) - UBM PLC said Thursday that it has acquired Seatrade Communications Ltd for an undisclosed amount, to expand its Maritime industry offering.
The events marketing and communication services business said the acquisition will bring together the company's two portfolios. It has had a history of partnering with Seatrade on maritime events.
Chris Hayman, Seatrade's executive chairman and owner, will remain with the business in a chairman role, and the business will remain headquartered in Colchester.
"The unified portfolio and management structure will create a simplified, coherent and stronger global offering for our clients," said Michael Duck, UBM's global maritime director and executive vice president of UBM Asia in a statement.
Shares in UBM were trading down 1.3% at 623.50 pence Thursday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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