28th Jun 2010 07:00
UBM acquires Corporate360 for up to $1.4 million Expands PR Newswire webcast solutions business in Asia
United Business Media Limited today announces that it has acquired Corporate360, a Hong Kong-based corporate communications solution provider, on behalf of PR Newswire. The business has been acquired for an initial cash consideration of $350,000 with a further performance-based consideration of up to $1 million payable over the next three years.
Corporate360 (www.corporate360.net) provides a range of webcast solutions and related services to businesses in Hong Kong, China and across the Asia Pacific region. Revenues for 2010 are expected to exceed $400,000.
In addition to contributing profitable revenue growth to PR Newswire, Corporate360 provides a technology and commercial platform which will enable PR Newswire to expand its multimedia and investor relations offerings in Asia. Corporate360's two founder executives will join PR Newswire following the business's integration into PR Newswire's Hong Kong operations.
Ninan Chacko, CEO of PR Newswire, commented:
"The acquisition of Corporate360 allows us to expand our service delivery capability in the regional market and will enable PR Newswire to offer clients in Asia a more sophisticated and engaging set of communication tools. We continue to see significant opportunities to develop PR Newswire in China and in the wider Asia Pacific region."
- 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. UBM
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.
For more information, go to www.prnewswire.com
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