1st Sep 2010 07:00
1 September 2010 UBM acquires Astound for up to $3.1m Strengthens UBM's presence in Virtual Career Fairs Market United Business Media Limited today announces that it has acquired Astound LLC,a privately-owned US virtual career fairs business, on behalf of UBM Studiosfor an initial cash payment of $120,000 and further performance relatedconsideration of up to $3m payable over the next three years.Astound's key virtual career fair products are Milicruit (www.milicruit.com)and Unicruit (www.unicruit.com). Milicruit allows US veterans and otherpersonnel leaving the armed services to meet potential employers in aninteractive 3D virtual setting. The career fairs offer virtual booths, jobpostings, company videos, company presentations, live chat with companyrepresentatives, video interviewing and resume and interview assistance.Unicruit is a university-centric job fair in which universities help studentsfind employment after graduation. Unicruit.com partners with universities andcorporations to create a digital environment in which students can meetmultiple employers without having to leave the university campus.By using virtual careers fairs, recruiters can reach many more of theirtargeted potential employee groups in less time, with less travel and usingfewer resources than with traditional recruitment methods. Astound's Fortune500 clients include GE, Raytheon, CSX, Walgreens, Stryker, Verizon, Booz Allen,Amazon, Target, 3M, Accenture and FedEx.The acquisition of Astound is a highly complementary addition to UBM Studios'virtual events business, providing a new customer base and further exposure toan emerging market, helping UBM Studios build on its existing virtual careersfair capabilities. UBM Studios' recent virtual recruitment fairs include:Psychiatric Times Virtual Career Fair (www.psychiatrictimes.com/careerexpo) -the virtual career fair provided recruiters and hiring organisations withexposure to psychiatrists actively searching for positions. Interactive boothsallowed companies to post available positions, while candidates had theopportunity to attach resumes and upload written or videotaped profiles as wellas to take part in real-time chats with recruiters.MBAwired APAC (https://presentations.inxpo.com/Shows/UBM/MBAWired/06-10/Registration/registration.html) - the first international virtual event for future MBA students from Asia to meet global business schools. The virtual recruitment fair offered candidates and admission officers the opportunity to communicate independent of their location and time zone. The event drew prospective MBA attendees from across Asia, spending an average time of 100 minutes in the virtual environment attending presentations and visiting exhibitors' booths.Housing Now (www.ukvirtualevents.com/virtual-events/housing-now) - a virtualrecruitment event which brought together the housing industry's leading figuresto address the issues and challenges facing the housing sector. The event drewalmost a thousand housing professionals who spent an average of three hours inthe virtual environment.
Astound's founder and Managing Partner, Kevin O'Brien, will remain with the business with responsibility for sales and new business development. Astound is expected to generate revenues of around $100,000 in 2010.
Kate Spellman, Senior Vice President and Managing Director of UBM Studios, said:
"I am very pleased to have brought the Astound business into UBM Studios and Ilook forward to working with our new colleagues. The acquisition of Astoundfits perfectly into our strategy of building on the strengths of our existingproducts and services to expand into adjacent markets. Astound will strengthenour position as the leading global provider of virtual events and services."We are building on the strengths of both organisations to provide abest-in-class virtual careers fair solution that we can deliver worldwide. Aswe have already demonstrated in our careers fairs bringing together MBAcandidates and business schools in Asia and facilitating housing industryrecruitment in the UK, we can help recruiting organisations and theirprospective candidates to interact online, overcoming the obstacles ofgeographical location, time zones and travel costs to deliver a cost-effectiveand time-efficient recruitment process."EndsContactsMediaPeter Bancroft
Director of CommunicationsE-mail
[email protected] Direct telephone
+44 20 7921 5961
Chris Barrie
Citigate Dewe RogersonE-mail
[email protected] telephone
+44 20 7282 2943Mobile+44 796 872 72 89Analysts/InvestorsEmail
[email protected] telephone
+44 20 7921 5095Andrew Crow+44 20 7921 5940Notes to Editors1. UBMUBM is a leading global provider of events; data, marketing and informationproducts; print products; and targeting, distribution and monitoring servicesto specialist business communities. Our 5,800 staff in more than 30 countriesare organised into specialist teams that serve these communities, helping themand their markets to work effectively and efficiently.
For more information, go to www.ubm.com
2. UBM Studios
UBM Studios is a leader in virtual events and virtual business solutions. Apioneer with virtual platforms, UBM Studios delivers deep expertise in live andonline events that brings business value to customers. UBM Studios connects,educates and enables virtual communications through a portfolio that fits everybudget. UBM Studios is the only virtual event provider to offer platform,content, audience recruitment, reporting and social marketing and gaming. UBMStudios virtual events include Virtual Trade Shows, Virtual Career Fairs,Virtual Seminar Centers, Virtual Resource Centers, Virtual Product Launch,Virtual Business Continuity, Virtual Corporate Meetings, Virtual SalesMeetings, Virtual Focus Group Centers and Virtual Training. UBM Studiosdelivers a complete global communication solution in Asia, Europe and NorthAmerica in industries including, health, finance, technology, building andeducation.
For more information, go to www.ubmstudios.com
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