Regulatory Announcements
REG-United Bus Media Ld: UBM acquires Corporate360 for up to $1.4 million
Released: 28/06/2010
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."
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Contacts
Media
Peter Bancroft Director of Communications
E-mail communications@ubm.com
Direct telephone +44 20 7921 5961
Chris Barrie Citigate Dewe Rogerson
E-mail chris.barrie@citigatedr.co.uk
Direct telephone +44 20 7282 2943
Mobile +44 796 872 72 89
Analysts/Investors
Email investorrelations@ubm.com
Direct telephone +44 20 7921 5095
Andrew Crow +44 20 7921 5940
Notes to Editors
1. 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
END