Independent business media specialist Intent Media has acquired the UK entertainment and technology product portfolio of UBM for a total cash consideration of £2.4m.
Intent’s existing portfolio consists of over a dozen online, print and event brands across video games, music, computing, mobile, toys, licensing and cycling.
Acquired events include Live Broadcast Europe, IT Workflow, 3D Masters, The Music Week Awards and up to 20 dedicated newsletters.
Last year the portfolio generated £5.4m of revenue for UBM.
Up to 36 staff will transfer to Intent Media, which is headquartered in Hertford. The company hopes to open an additional office in Islington Green, London, this summer.
Total staff count across the group will rise to around 90, with projected combined revenues of over £10m for the financial year ending 30 September 2012.
Intent Media MD Stuart Dinsey told CN: “Events are a key focus for Intent Media going forward and we are delighted to be adding a selection of targeted conferences, plus the huge Music Week Awards into our portfolio.
“The deal takes Intent’s total number of events per year to over 20 – ranging from small but regular networking summits to essential high-profile gatherings.”
The acquisition effectively doubles the size of the Intent Media.
“The brands we are taking over are well established, with experienced staff and impressive heritage,” Dinsey added, emphasizing the policy of investment in online and events would continue.
With regard to potential job losses among the UBM former staff, Dinsey told CN: “No decision have been made and at this time our focus is on consulting with the transferring employees.”
UBM is selling the portfolio on behalf of its UBM Connect division. The transaction is expected to complete in the next six weeks.
Events already run by Intent include The London Games Conference, MI Retail Conference and Expo, Monetising Mobile Conference and Sundry Trade Awards.
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