UBM expands Chinese operation with two acquisitions
LONDON - United Business Media has snapped up two firms in China for just over $4.1m (£2.1m) with its acquisition of a medical marketing and a direct marketing firm.
UBM has acquired MediReach Healthcare Communications for an initial cash consideration of $1.1m, with a further deferred consideration of up to $2.75m based on future performance.
Headquartered in Shanghai, MHC provides medical and pharmaceutical marketing consultancy services to multinational pharmaceutical companies across China.
It is seen as one of the fastest growing sectors of the Chinese healthcare market and the acquisition will strengthen the position of UBM's CMPMedica division.
Its second acquisition is that of Customer Contact Center Standard for $350,000. Based in Beijing, the business provides services to Chinese call centres, including centre training and consulting for corporate clients. It also organises the China Contact Center Conference & Awards event attended by call centre managers from across China.
UBM said the acquisition would accelerate its call centre management activities in China, particularly its existing International Customer Management Institute consulting, training, events business which UBM acquired via its CMP Technology business in 2005.
In addition, UBM also acquired the Aviation Industry Group in the UK for £6m with another £1m payable on future performance.
AIG organises 21 annual exhibitions and conferences for the aviation industry, supported by three print titles including Aircraft Technology and Airline Fleet & Network Management.
The exhibitions are held in the UK, with the conferences taking place across the US, Middle East, Asia Pacific and Europe.
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