Mergers and Acquistions News
Categories: Media & Information Services
December 9th 2008, 15:42PM
United Business Media (UMB) has acquired Chinese firm Sanguine Microelectronics for an initial cash consideration of $8 million (£5.4 million).
The deal has been conducted by UBM on behalf of its TechInsights business and up to an extra $9.5 million is payable over the next three years, subject to a number of performance conditions.
Sanguine is a provider of integrated circuit revere engineering services and information and is established in China, Korea and Japan.
According to Paul Miller, chief executive officer of TechInsights, the move is aimed at getting a bigger foothold in the Asian region.
He said: "Technical and intellectual property intelligence services for the electronics industry are a global, high value, high growth opportunity for TechInsights: we aim to be a global leader in this market."
The move is UBM's second Chinese acquisition in as many months.
In November, it revealed that it had taken over full control of Xinhua PR Newswire for a cash consideration of $6 million.
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