11th Jan 2006 07:00
11 January 2006 United Business Media acquires Shorecliff Communications for $12.3m United Business Media today announced that it has acquired ShorecliffCommunications LLC, a US events business, for a cash consideration of $12.3million.Shorecliff's four principal events focus on the high growth technology marketsof radio frequency identification (RFID), broadband services, wirelessinfrastructure and telecoms television / Internet Protocol television (IPTV).The Shorecliff events are expected to generate revenue of around $6 million in2006.David Levin, Chief Executive of United Business Media, said"The acquisition of Shorecliff reflects UBM's continuing commitment toacquiring bolt-on, complementary assets that develop and enhance our existingbusinesses while also achieving our 8% post tax cost of capital hurdle. Thisacquisition continues the development of UBM's events portfolio and follows theacquisition of Informex, Black Hat, ICMI, Bar Show and Japan Jewellery Show inthe second half of 2005."Steve Weitzner, Chief Executive of CMP Media said:"Shorecliff's business is strongly complementary to CMP Media's existingactivities and its focus on important, fast-growing IT and telecommunicationsmarkets. This acquisition is part of a broad-based strategy to grow ouraudience and diversify our solutions for bringing sellers and buyers together.We are delighted to have Shorecliff's talented and experienced team joining usin building CMP's industry's leading IT B2B publishing business." - Ends - EnquiriesPress 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 Mobile +44 771 046 8996 Notes to Editors1. Shorecliff CommunicationsShorecliff is a US technology events business serving four main communities:radio frequency identification (RFID), broadband, wireless infrastructure andinternet protocol television (IPTV). The company provides industry-leadingbusiness-to-business conferences, trade exhibitions and complementary mediaproperties in these high growth technology sectors.Shorecliff's events portfolio includes RFID World, the largest RFID focusedindustry event, TelcoTV Conference & Expo, Broadband Wireless World and TowerTechnology Summit & Trade Show.In addition to the $12.3 million cash consideration, there is a potentialearn-out payment of up to $1.9 million.For further information, please go to www.shorecliffcommunications.com2. United Business MediaUnited Business Media operates two main business streams - PR Newswire and CMP.PR Newswire is the world's leading corporate news distribution service.CMP specialises in creating prime print, online and exhibition franchises thatbring industry professionals and enthusiasts together to be better informed,meet and do business. CMP is, as a result, at the forefront of the developmentof many national and global industries.UBM has a market capitalisation of around ‚£1.8 billion and employs 5,500 peoplearound the world. In 2004, UBM's turnover was ‚£809 million and operating profitwas ‚£132 million. The company is led by David Levin, who was appointed as ChiefExecutive in April 2005. Nigel Wilson, is Chief Financial Officer and wasappointed in 2001.ENDUNITED BUSINESS MEDIA PLCRelated Shares:
UBM