UBM acquires online marketing summit

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.

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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.

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