United Business Media buys US firm for $287m

first_img Show Comments ▼ whatsapp United Business Media buys US firm for $287m whatsapp BRITISH events and publishing group United Business Media (UBM) has agreed to buy US tradeshows company Canon Communications for $287m to boost its presence in the medical sector and emerging markets.UBM said yesterday the acquisition – the company’s largest since chief executive David Levin joined five years ago — would make it the leading provider of tradeshows and related media for the medical-device design and manufacturing markets.UBM’s investors reacted positively to the deal. “The strategic fit looks good,” said a broker at Numis Securities, who kept a “hold” rating on UBM shares. “This implies last-twelve-month multiples of 2.7 times sales and 7.8 times EBITDA,” UBS analyst Alastair Reid wrote in a note. In the 12 months to 30 June, Canon generated $106m in revenues and it had earnings before interest, tax, depreciation and amortisation (EBITDA) of $37m.UBM is buying Canon from Spectrum Equity Investors and Apprise Media.The company said it expected the takeover to boost earnings per share by nine per cent in the first full-year of ownership. Share Thursday 16 September 2010 8:42 pm KCS-content More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comWhy people are finding dryer sheets in their mailboxesnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com Tags: NULLlast_img read more