Mergers and Acquistions News
Categories: Media & Information Services
September 16th 2010, 16:43PM
UK-based United Business Media Limited, a global media events company, will acquire Canon Communications LLC, a US tradeshows firm, for $287 million (£184 million).
UBM will acquire Canon Communications from Spectrum Equity Investors and Apprise Media LLC.
The takeover will enable UBM to become the major global provider of tradeshow media for the emerging medical device design market, creating opportunity for growth and leveraging its tradeshow infrastructure and knowledge.
"The acquisition of Canon is an exciting step for UBM, building on our track record of identifying, completing and integrating value-enhancing acquisitions over the last five years. Canon is a great strategic fit for us: it gives us a complementary portfolio of market-leading branded tradeshows and related products which serve highly attractive growth markets experiencing globalisation," David Levin, UBM's chief executive officer, said.
The transaction is subject to Hart-Scott-Rodino (HSR) antitrust clearance.
This is UBM's third acquisition so far this month. It has also acquired UM Paper for up to $880,000 (£564,000) and Astound for up to $3.1 million (£1.9 million).
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