LONDON, January 11 /PRNewswire-FirstCall/ -- United Business Media (LSE:
UBM) today announced that it has acquired Shorecliff Communications LLC, a US
events business, for a cash consideration of $12.3 million.
Shorecliff's four principal events focus on the high growth technology
markets of radio frequency identification (RFID), broadband services,
wireless infrastructure and telecoms television / Internet Protocol
television (IPTV). The Shorecliff events are expected to generate revenue of
around $6 million in 2006.
David Levin, Chief Executive of United Business Media, said
"The acquisition of Shorecliff reflects UBM's continuing commitment to
acquiring bolt-on, complementary assets that develop and enhance our existing
businesses while also achieving our 8% post tax cost of capital hurdle. This
acquisition continues the development of UBM's events portfolio and follows
the acquisition of Informex, Black Hat, ICMI, Bar Show and Japan Jewellery
Show in the second half of 2005."
Steve Weitzner, Chief Executive of CMP Media said:
"Shorecliff's business is strongly complementary to CMP Media's existing
activities and its focus on important, fast-growing IT and telecommunications
markets. This acquisition is part of a broad-based strategy to grow our
audience and diversify our solutions for bringing sellers and buyers
together. We are delighted to have Shorecliff's talented and experienced team
joining us in building CMP's industry's leading IT B2B publishing business."
Notes to Editors
1. Shorecliff Communications
Shorecliff is a US technology events business serving four main
communities: radio frequency identification (RFID), broadband, wireless
infrastructure and internet protocol television (IPTV). The company provides
industry-leading business-to-business conferences, trade exhibitions and
complementary media properties in these high growth technology sectors.
Shorecliff's events portfolio includes RFID World, the largest RFID
focused industry event, TelcoTV Conference & Expo, Broadband Wireless World
and Tower Technology Summit & Trade Show.
In addition to the $12.3 million cash consideration, there is a potential
earn-out payment of up to $1.9 million.
For further information, please go to http://www.shorecliffcommunications.com
2. United Business Media
United 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
that bring industry professionals and enthusiasts together to be better
informed, meet and do business. CMP is, as a result, at the forefront of the
development of many national and global industries.
UBM has a market capitalisation of around GBP1.8 billion and employs
5,500 people around the world. In 2004, UBM's turnover was GBP809 million and
operating profit was GBP132 million. The company is led by David Levin, who
was appointed as Chief Executive in April 2005. Nigel Wilson, is Chief
Financial Officer and was appointed in 2001.
SOURCE United Business Media Plc
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CONTACT:
Enquiries: Press: Peter Bancroft, Director
of Communications, E-mail: Peter.Bancroft@ubmgroup.biz, Direct
telephone: +44-(0)20-7921-5961. Chris Barrie, Citigate Dewe
Rogerson, E-mail: chris.barrie@citigatedr.co.uk, Direct
telephone: +44-(0)20-7282-2943, Mobile: +44-(0)796-872-72-89.
Analysts: Catherine Southgate, Head of Investor Relations, Email:
Catherine.southgate@ubmgroup.biz, Direct telephone:
+44-(0)20-7921-5031, Mobile: +44-(0)771-046-8996
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