BtoB

UBM announces four deals, 2010 financial results

Published on .

Most Popular
London—United Business Media has announced two acquisitions and two divestments. The company acquired SATTE, a travel and tourism exhibition in India, from Cross Section Publications. It also acquired a 60% stake in Famdent, which produces dental events in India, forming a joint venture with Anil and Jyotika Arora.

Financial terms of those acquisitions were not disclosed.

UBM also announced the divestment of two print-focused businesses. It sold 62.9% of its French medical newspaper and magazine business to a management buyout team led by Gérard Kouchner, the business' CEO. The deal included $6.1 million in cash and financing from UBM of $8.3 million.

UBM also sold The Publican and related products to William Reed for an initial cash consideration of $2.5 million plus performance-related considerations of up to $245,000.

In addition, UBM announced its complete financial results for last year. The company's revenue totaled $1.45 billion in 2010, an increase of 4.9% over the previous year. In the same time frame, its adjusted operating profit increased 0.4% to $280.5 million, due to investment in new-product development.

UBM said it made 22 acquisitions in 2010 worth $421.2 million. Many of the acquisitions were events, which now comprise 34.8% of UBM's revenue and 54.4% of its adjusted operating profit.

The company also saw its long-term debt more than double to $791.1 million.

In this article: