3rd Jan 2008 07:00
United Business Media acquires HispaniMark for $5.5m PR Newswire adds leading provider of news distribution and related services for US Hispanic media market
United Business Media plc today announces that it has acquired the assets of HispaniMark, LLC on behalf of PR Newswire. UBM has acquired the business from its founders for an initial cash consideration of $5.5m, with a further performance-related consideration of up to $3m payable over the next three years.
HispaniMark, LLC provides PR agencies and communication professionals with news distribution (Hispanic PR Wire) and related services (Hispanic Digital Network, LatinClips) designed to target the fast-growing Hispanic media and community. Hispanic PR Wire (www.hispanicprwire.com), which generates around 70% of HispaniMark's revenues, offers comprehensive, targeted distribution to key Hispanic media and stakeholders. Other HispaniMark products include Hispanic Digital Network (www.hdnweb.com), an internet advertising network that manages online-only media campaigns, and LatinClips (www.latinclips.com) which is a leading, comprehensive ethnic media monitoring service.
PR Newswire's acquisition of Hispanic PR Wire, LatinClips and Hispanic Digital Network, combined with the acquisition in July 2007 of Notilog, the leading Latin American Spanish- and Portuguese-language electronic media monitoring and analytics firm, positions PR Newswire as the leading provider of communications services that target the U.S. Hispanic and Latin American markets.
Based in Miami, Florida, HispaniMark was founded in 2000 by Manuel Ruiz. Mr Ruiz and his senior management team will stay with the business following its acquisition by PR Newswire. HispaniMark's revenues for FY2007 are anticipated to be approximately $2m. The acquisition is anticipated to meet UBM's 8% post-tax cost of capital acquisition criterion in its first full year of ownership.
Charles Gregson, chief executive officer of PR Newswire, said:
"The acquisition of Hispanic PR Wire, Latin Clips and Hispanic Digital Networkis in line with PR Newswire's mission to enhance our multicultural services inthe U.S. and internationally through a combination of organic development andacquiring leading companies. These businesses are leaders in their space, andwe look forward to welcoming them and their employees into the PR Newswirefamily." - 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. We inform markets and bring the world's buyers and sellers together at events, online, in print, and with the information they need to do business successfully. We focus on serving professional commercial communities, from doctors to game developers, from journalists to jewellery traders, from farmers to pharmacists around the world. Our 5,000 staff in more than 30 countries are organised into specialist teams that serve these communities, helping them to do business and their markets to work effectively and efficiently.
For more information, go to www.unitedbusinessmedia.com.
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