UBM plc (LSE: UBM-LN) today announces that it has acquired Content Marketing Institute (CMI) for a consideration of $17.6m with an additional earn-out subject to meeting profit targets over the next 2 years.
CMI produces Content Marketing World, the leading event in the content marketing sector. The annual event runs every September in the Cleveland Convention Center, Ohio and in 2015 attracted over 3,500 attendees from 55 countries. CMI also produces a number of supporting conferences and websites that serve the content marketing community. In 2015 CMI revenues were approximately $9m – $6m from Events and $3m from Other Marketing Services.
Content marketing is an attractive sector with an exciting adjacency to UBM’s technology portfolio. Marketing professionals in the technology space are early adopters of content marketing strategies, while the discipline of marketing is becoming increasingly dependent on, and enabled by, new technologies.
Tim Cobbold, CEO of UBM plc, said:
“Our ‘Events First’ strategy focuses on improving the quality of UBM’s portfolio and Content Marketing World, as the leading event in this high-growth sector, enhances our portfolio and strengthens our leading position in the US events industry.”
For the full announcement on CMI’s website click here