UMB acquires event organiser RGH
United Business Media (UBM) has acquired the Route Development Group (RDG), the company has announced.
UBM purchased the aviation route development and network planning event organiser from RDG's private shareholders on behalf of UBM Aviation for £8 million in cash and a further deferred consideration of up to £1.3 million payable over the next two years.
RDG's flagship event is Routes – The World Route Development Forum, which is attended by airlines, airports, suppliers and industry observers, and last year attracted almost 3,000 participants.
Peter von Moltke, chief executive officer of UBM Aviation, said: "We are delighted to have acquired this fantastic business, which includes a genuinely unique mix of assets which will enhance how we serve the airline and airport markets.
"I am also pleased to welcome their solid base of talented aviation industry experts, whose skills will greatly complement the UBM Aviation team.
He added that the acquisition would strengthen UBM's position as a "leading global provider of aviation intelligence, events and tradeshows".
Last month, UMB said its adjusted operating profit was up 6.3 per cent on revenues unchanged n last year's first half.