2nd September 2010
United Business Media (UBM) has increased their presence in the online events market, thanks to the purchase of Astound LCC.
The event organisers acquired the privately-owned US virtual career fairs business for an initial cash payment and a further performance related consideration over the next three years.
According to the company, the Astound acquisition is a highly complementary addition to UBM Studios' virtual events business, which includes the Psychiatric Times Virtual Career Fair, MBAwired APAC and Housing Now.
Kate Spellman, senior vice president and managing director of UBM Studios, said: "The acquisition of Astound fits perfectly into our strategy of building on the strengths of our existing products and services to expand into adjacent markets."
"We are building on the strengths of both organisations to provide a best-in-class virtual careers fair solution that we can deliver worldwide."
Last month, UBM announced that it has purchased the Route Development Group (RDG), which organises Route - The World Route Development Forum.