London—United Business Media, the parent company of CMP Technology, Wednesday announced it has agree to acquire Commonwealth Business Media for $152 million in cash. The acquisition gives UBM a strong foothold in the international trade and transportation business intelligence market.
Commonwealth’s products, which serve more than 85,000 customers, include online data services PIERS Global Intelligence Solutions and BACK Aviation Solutions, The Journal of Commerce and its related portfolio of titles (both print and online) and several directories covering international trade, rail and trucking markets.
Commonwealth’s customers include manufacturers, carriers, logistics companies and government agencies.
Media investment bank Jordan, Edmiston Group represented Commonwealth in the transaction, which is expected to close in the next month.