Business events organiser and publisher UBM has acquired the Online Marketing Summit (OMS) from Online Marketing Connect on behalf of UBM TechWeb.
OMS is an annual conference based in San Diego serving the growing online and digital marketing sectors, which focuses on pay-per-click, email marketing, community management and social media marketing.
Online Marketing Connect will continue to operate its remaining business in partnership with OMS.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
In 2011 OMS generated revenues of around $1.1m and the value of the business's gross assets at 16 November 2011 was $0.2m. The acquisition is expected to exceed UBM's cost of capital criterion in its first full year of ownership.
Tony Uphoff, chief executive officer of UBM TechWeb said: "The acquisition of the Online Marketing Summit forms part of our strategy to extend our global reach in serving online marketers worldwide. The conference will expand UBM TechWeb's ability to serve the digital marketing community both through our professional conferences and our rapidly growing marketing-as-a-service business."
The share price fell 1.24% to 479p by 14:18.
Act now: First Direct’s £175 switching bonus ending soon
First Direct has launched a £12,500 prize draw on top of its £175 cash bonus - but they both finish soon, so you’ll need to be quick
By Vaishali Varu Published
Credit card providers slash 0% balance transfer deals
Customers face a double whammy of rising interest rates and shorter 0% balance transfer periods. We look at what’s going on in the credit card market and why you’ll need to act fast to get the top 0% balance transfer deal
By Ruth Emery Published