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UBM acquires Virtual Press Office for $6.5m

United Business Media has announced that it has acquired Virtual Press Office (VPO) from its private shareholders on behalf of PR Newswire for an initial cash consideration of $6.5m, with a further performance-related consideration of up to $3.5m payable over three years.

VPO is a leading provider of communications and marketing services to live event organisers, exhibitors and attendees. VPO was established in 1996 and now serves more than 500 tradeshows and conferences and 10,000 customers worldwide. VPO provides a range of tools and services designed to support all aspects of event marketers’ tradeshow communications, from building online press kits to direct email marketing, to social media outreach and analysis through its recently launched EventBuzz social media analytics capability.

The integration of VPO and PR Newswire’s existing Global Events platform will bring together the leading global providers of tradeshow news distribution solutions and online press office management. This positions PR Newswire as the leading marketing and communications service provider in the US live event market, says UBM. The business will also be well placed to continue its growth beyond the domestic US market both through its access to UBM’s global tradeshow and other live event portfolio, as well as through VPO’s existing extensive relationships with leading event organisers around the world, particularly in Europe and Asia.

VPO’s co-founders, Peter Brand, chief executive officer, and Tom Cherry, chief operating officer, will join PR Newswire to lead the integrated Global Events team.

VPO is expected to generate revenue of around $2.2m in 2009.

David Levin (pictured), Chief Executive Officer of United Business Media said: “Bringing VPO and PR Newswire’s capabilities together creates a complete, integrated communications service specifically tailored for live event marketers, a service which we will leverage across UBM’s own global events portfolio and will also offer to other event organisers, exhibitors and attendees worldwide.”