Commonwealth Business Media, UK forum sold to United Business Media.
CBM is a provider of information products for the international trade and transportation industry. Its products include: online data services PIERS Global Intelligence Solutions, a database of import and export information on cargo moving through major ports: BACK Aviation Solutions, a collection of aviation information and analytical tools available for the air transport industry; nine events including Tram-Pacific Maritime, Breakbulk Conference and China Trade & Logistics, among others; a series of directories serving the U.S. seaport market; "Oil Price Daily" newsletter; and, eight magazines, including "Journal of Commerce," "Air Cargo World," "Canadian Sailings," "Florida Shipper," "Gulf Shipper," "Pacific Shipper," "Shipping Digest" and "Traffic World."
In the year to September 2005, more than 60% of CBM's revenues were derived from data and online products, with 88% of revenues earned in the U.S. In the same period, CBM had revenues of $55.6 million and EBITDA of $12 million. UBM said the purchase of CBM provides it with a strong position in a new vertical market and shows UBM's desire to execute a strategy of investing both organically and in acquisitions to develop multi-media businesses that have leading positions in growing vertical b2b markets, and to develop a balanced portfolio of media businesses and revenue streams.
UBM ceo David Levin said that CBM is "a perfect fit for UBM; it is a leader in international trade and transportation business intelligence market, a market which is substantial and set to continue tog row as world trade expands."
CBM's 85,000 individual customers include manufacturers, carriers, logistics companies and government agencies.
In related news, UBM has acquired the Thames Gateway Forum exhibition and conference for an initial cash consideration of 3.05 million [pounds sterling]. A further deferred consideration of up to 0.25 million [pounds sterling] will be payable over the next three years. The Thames Gateway Forum was launched in 2004 and focuses on the regeneration of the Thames Gateway, an area east of London that will play host to the London Olympics in 2012. "The forum is targeted to development agencies, developers, consultants, architects, and financial institutions.
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|Date:||Jul 1, 2006|
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