5th Dec 2006 07:00
United Business Media buys the Software 2007 conference Strengthens CMP Technology's leading position in business technology markets
United Business Media plc announces today that its wholly-owned, US-based subsidiary CMP Technology has acquired the Software 2007 conference from Sand Hill Group LLC for an initial cash consideration of $5.5m, with a further $3.5m being payable over the next three years if certain performance conditions are met.
This year's two day conference attracted more than 1,500 leading CIOs, COOs, CEOs and other senior executives from the wider software industry. The Software 2007 conference will take place in Santa Clara on May 8-9, 2007 (see http:// www.sandhill.com/conferences/sw2007/index.php).
The acquisition of the Software 2007 conference extends CMP Technology's ability to address business technology markets, and particularly the technology buyer community. The event is highly complementary to CMP Technology's existing market-leading media portfolio which includes events such as Interop, Web 2.0 Summit, the Enterprise 2.0 Conference and Mobile Business Expo, print titles such as Information Week and online properties such as TechWeb (www.techweb.com).
The acquisition is anticipated to meet United Business Media's 8% post-tax cost of capital hurdle rate in its first year of ownership.
- 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 Catherine Southgate Head of Investor Relations Email [email protected] Direct telephone +44 20 7921 5031 Notes to Editors
1. About United Business Media plc
United Business Media is one of the world's leading global business information companies. UBM brings together the world's buyers and sellers, helping their markets work effectively and efficiently through PR Newswire's news distribution network, Commonweath's trade and transportation business intelligence, and through CMP's portfolio of events, print and on-line publications. For more information, go to www.unitedbusinessmedia.com
1.1. About PR Newswire
PR Newswire is the world's leading corporate news distribution service. Headquartered in New York, PR Newswire provides news distribution, targeting, measurement and broadcast services on behalf of tens of thousands of customers including many of the world's top companies and agencies. PR Newswire has offices in 11 countries and routinely sends its customers' news to outlets in 135 countries and in more than 40 languages. PR Newswire's services include ProfNet Experts, eWatch, MEDIAtlas, Search Engine Optimization , MediaRoom, MediaSense and MultiVu. For more information, go to www.prnewswire.com
1.2. About CMP / Commonwealth
CMP's portfolio of more than 200 newspapers, magazines and directories, 200 websites and 300 events brings together buyers and sellers from a range of global sectors including technology, healthcare, the built environment, lifestyle, fashion and ingredients. CMP operates globally through four divisions:
1.2.1. CMP Asia: Headquartered in Hong Kong with offices throughout the region, CMP Asia is a leader in exhibitions and online and print business information publications for Asian markets. Working with partners from around the world, CMP Asia stages a range of leading events which includes the largest international jewellery, leather and fashion, beauty and furniture trade shows in Asia, as well as the definitive health show for the Japan market. For more information, go to www.cmpasia.com
1.2.2. CMP Information: Operating in the UK and internationally, CMPi provides professional media solutions to around 20 industry sectors. Its products include magazines, exhibitions, conferences, awards events, information products and websites, targeted at business professionals across a range of markets such as the built environment, travel, licensed trade, agriculture, security and ingredients. For more information, go to www.cmpi.biz
1.2.3. CMP Technology: CMP Technology is a marketing solutions company serving builders, sellers and buyers of technology worldwide. Through its portfolio of market-leading print, event and online information brands, CMP Technology delivers access, insight and actionable programs designed to connect technology sellers and buyers. For more information, go to www.cmp.com
1.2.4. CMPMedica: CMPMedica provides information and education to healthcare professionals and patients around the world. It has a unique portfolio of professional media products including newspapers, magazines, drug directories, electronic databases, websites and events. For more information, go to www.cmpmedica.com
1.2.5. Commonwealth Business Media: Commonwealth Business Media is the leading information provider to the global trade and transportation market with comprehensive proprietary data, news and analytical content. Its leading brands include Port Import Export Reporting Service ("PIERS"), BACK Aviation Solutions ("BACK"), The Journal of Commerce and a number of directory databases covering the international trade, railroad and trucking markets. Commonwealth is headquartered in East Windsor, New Jersey with offices around the US and internationally. For more information, go to www.cbizmedia.com
UNITED BUSINESS MEDIA PLCRelated Shares:
UBM