Two divisions of London's United Business Media make significant acquisitions.
London specialized-information publishers have spent almost $95 million in cash this past month in acquisitions. Last issue we reported Incisive Media's $43 million purchase of JupiterMedia Corporation's Search Engine Strategies (NL/NL 8/17/05). Now United Business Media's CMP Information has acquired the Synthetic Organic Chemical Manufacturers Association's Informex, a leading specialty and custom chemicals trade show and exhibition operation, for $24 million cash at closing.United Business Media's CMP Media LLC also recently bought Light Reading Inc., New York City, for $27 million cash at closing.
The Jordan, Edmiston Group, New York City, represented SOCMA in CMP Information's transaction, and the firm represented Light Reading in CMP Media's transaction.
Informex
CMP Information's acquisition builds upon UBM's existing strong chemicals and pharmaceuticals ingredients operations in Europe and Asia through its CMP Information division. The move makes CMP Information the world leader in chemicals industry events.
Light Reading
CMP Media's Light Reading acquisition will give the UBM division a market-leading position in the global telecommunications segment, at a time when it is poised for a new round of growth.
Light Reading will become an automomous business unit within CMP. Stephen Saunders, co-founder and CEO of Light Reading, remains president and becomes senior vice president of CMP's newly formed Communications Group.
United Business Media
United Business Media plc provides business information services to the technology, healthcare, media, automotive, financial services, and property industries. UBM offers services in news distribution, publishing and events to customers worldwide.
Its brands include PR Newswire--the world's leading corporate news distribution service--and CMP, the media and exhibition group serving professionals and enthusiasts in the U.S., U.K., Asia, and Europe.
www.UntiedBusinessMedia.com
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| Publication: | The Newsletter on Newsletters |
|---|---|
| Geographic Code: | 4EUUK |
| Date: | Aug 31, 2005 |
| Words: | 277 |
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