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
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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.
NR
-
Shein shifts IPO focus to Hong KongThe development piles fresh pressure on London’s beleaguered stock market, which many had hoped would be boosted by Shein’s IPO
-
Scientists turn lead into gold – could it wreck the yellow metal's price?Medieval alchemists have been vindicated after scientists turned lead into gold, but the results aren’t going to crash the gold price any time soon
