San Francisco—UBM TechWeb has acquired the Online Marketing Summit, a digital marketing event, from Online Marketing Connect. Financial terms of the deal were not disclosed, but UBM said the Online Marketing Summit generated $1.1 million in revenue this year and the value of the business' gross assets were $200,000 as of Nov. 16.
The next Online Marketing Summit is scheduled for February 2012. Aaron Kahlow will continue as director of the conference, which was established in 2007.
“The acquisition of the Online Marketing Summit forms part of our strategy to extend our global reach in serving online marketers worldwide,” said Tony Uphoff, UBM TechWeb CEO, in a statement. “The conference will expand UBM TechWeb's ability to serve the digital marketing community both through our professional conferences and our rapidly growing marketing-as-a-service business.”