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BtoB

UBM will mull acquisitions when credit crunch eases

By Published on .

Dublin, Ireland—United Business Media, which slowed its acquisition pace beginning in late 2007, said Thursday that it may soon begin to examine acquisition opportunities again.

“We continue to be presented with numerous acquisition opportunities, but we believe most of these are of businesses that will struggle to adapt to the current economic and business environment,” the company said in a statement issued in conjunction with its annual general meeting held Thursday.

“We have therefore made only a minimal investment in acquisitions so far in 2009. As we move beyond the refinancing phase of the credit crunch, we expect to identify higher-quality acquisition opportunities which provide better potential for creating shareholder value.”

UBM, the parent company of TechWeb and TechInsights, also said that in its events business, sponsorship revenue, which accounts for about 90% of that unit’s profits, is expected to remain steady, although attendee revenue is expected to be about 25% to 35% lower this year than in 2008.

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