14th Dec 2009 07:00
UBM acquires Virtual Press Office for $6.5m Strengthens PR Newswire's global event marketing and communications platform
United Business Media Limited today announces that it has acquired Virtual Press Office (VPO) from its private shareholders on behalf of PR Newswire (www.prnewswire.com) for an initial cash consideration of $6.5m, with a further performance-related consideration of up to $3.5m payable over three years.
VPO is the market-leading provider of communications and marketing services to live event organisers, exhibitors and attendees. VPO was established in 1996 and now serves more than 500 tradeshows and conferences and 10,000 customers worldwide. VPO provides a range of tools and services designed to support all aspects of event marketers' tradeshow communications, from building online press kits to direct email marketing, to social media outreach and analysis through its recently launched EventBuzz social media analytics capability.
The integration of VPO and PR Newswire's existing Global Events platform will bring together the leading global providers of tradeshow news distribution solutions and online press office management. This positions PR Newswire as the leading marketing and communications service provider in the US live event market. The business will also be well placed to continue its growth beyond the domestic US market both through its access to UBM's global tradeshow and other live event portfolio, as well as through VPO's existing extensive relationships with leading event organisers around the world, particularly in Europe and Asia.
VPO's co-founders, Peter Brand, chief executive officer, and Tom Cherry, chief operating officer, will join PR Newswire to lead the integrated Global Events team.
VPO is expected to generate revenue of around $2.2m in 2009.
David Levin, Chief Executive Officer of United Business Media said:
"Bringing VPO and PR Newswire's capabilities together creates a complete,integrated communications service specifically tailored for live eventmarketers, a service which we will leverage across UBM's own global eventsportfolio and will also offer to other event organisers, exhibitors andattendees worldwide." - 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 Andrew Crow +44 20 7921 5940 Notes to Editors1. United Business Media
UBM focuses on two principal activities: worldwide information distribution, targeting and monitoring; and, the development and monetisation of B2B communities and markets. UBM's businesses inform markets and serve professional commercial communities - from doctors to game developers, from journalists to jewellery traders, from farmers to pharmacists - with integrated events, online, print and business information products. Our 6,400 staff in more than 30 countries are organised into specialist teams that serve these communities, bringing buyers and sellers together, helping them to do business and their markets to work effectively and efficiently.
For more information, go to www.ubm.com
2. PR Newswire
PR Newswire is the global leader in innovative communications and marketing services, enabling organizations to connect and engage with their target audiences worldwide. Through its multi-channel distribution network, audience intelligence, targeting, and measurement services, PR Newswire helps corporations and organizations conduct rich, timely and dynamic dialogues with the media, consumers, policymakers, investors and the general public, in support of building brands, generating awareness, impacting public policy, driving sales, and raising capital. PR Newswire connects customers with audiences in more than 170 countries and in over 40 languages through an unparalleled network of offices in 16 countries across North and South America, Europe, Asia, and the Middle East. PR Newswire is a subsidiary of United Business Media Limited, a leading global business media company that serves professional commercial communities around the world.
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