21st Feb 2008 07:00
United Business Media acquires Gartner Vision Events for $11.4m
CMP Technology adds specialist events to its Channel events portfolio
United Business Media plc today announces that it has acquired Vision Events on behalf of CMP Technology's Channel business. UBM has acquired the Vision Events from Gartner, Inc. for a total cash consideration of $11.4m.
Vision Events (www.visionevents.com) is a leading provider of specialized USand international information technology events. Vision Events organises 16annual conferences with sponsors including IBM, HP, SAP, Microsoft andSamsung. The attendees of these invitation-only events include keydecision-makers drawn from Channel and end user audiences in vertical marketssuch as government, manufacturing and financial services.Each conference is designed to enable technology vendors to engage with theirprofessional corporate IT and channel buyer counterparts for more targetedbusiness conversations than is usually possible at larger events. Attendeesvalue the efficient event format, which allows them to evaluate a variety ofproducts and solutions over a short period of time, gain in-depth informationand build business relationships through senior level networking. Vendors gainaccess to an exclusive attendee list to shorten sales cycles and develop newcustomer accounts.
The business is a highly complementary addition to the events portfolio of CMP Technology's Channel business into which Vision Events will be integrated. Vision Events has 50 employees; most are based in Bedford, New Hampshire, USAwith the remainder in Egham, U.K. In 2007, Vision Events' conferences generated $20.5 million in revenue. The acquisition is anticipated to meet UBM's 8% post-tax cost of capital acquisition criterion in 2008.
The acquisition is subject to Transfer of Undertakings (Protection of Employment) Regulations (TUPE) consultation. UBM expects the transaction to close by the end of February.
Robert Faletra, President of CMP Technology's Channel business said:
"This is a great acquisition for CMP Channel because it deepens and broadensour event portfolio, adding channel, retail, international and specialized ITevents. There are strong synergies between CMP Channel and Vision Events, andthese new events closely map to our strategy to provide 'Access to Execution',creating many growth opportunities. We are fully committed to driving businessthrough the technology Channel and by adding Vision Events to our alreadyrobust portfolio; we are expanding our offerings and markets even further whilewe continue to bring buyers and sellers together." - Ends - ContactsMedia Peter Bancroft Director of Communications E-mail [email protected] Direct telephone +44 20 7921 5961 Chris Barrie Citigate Dewe Rogerson E-mail [email protected] Direct telephone +44 20 7282 2943 Mobile +44 796 872 72 89 Analysts/Investors Email [email protected] Direct telephone +44 20 7921 5095 Nigel Wilson +44 20 7921 5019 Andrew Crow +44 20 7921 5940 Notes to Editors
1. About United Business Media Plc
United Business Media Plc is a leading global business media company. Weinform markets and bring the world's buyers and sellers together at events,online, in print, and with the information they need to do businesssuccessfully. We focus on serving professional commercial communities, fromdoctors to game developers, from journalists to jewellery traders, from farmersto pharmacists around the world. Our 5,000 staff in more than 30 countries areorganised into specialist teams that serve these communities, helping them todo business and their markets to work effectively and efficiently.
For more information, go to www.unitedbusinessmedia.com.
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