UK-based independent business media company Intent Media has acquired the entertainment and technology product portfolio of UBM for a total consideration of £2.4 million.

UK-based independent business media company Intent Media has acquired the entertainment and technology product portfolio of UBM for a total consideration of £2.4 million.

Under UBM ownership, the brands being bought by Intent include Television Broadcast Europe, Music Week, Pro Sound News Europe and Installation Europe.

Intent focuses on the entertainment, technology and leisure markets and the business currently has online, print and event brands covering video games, music, computing and cycling.

Managing director of Intent, Stuart Dinsey, says that the acquisition is a significant move for the business and doubles its size.

He adds: ‘We are heading into markets that fit our current landscape, whilst also contributing our policy of holding a leadership position wherever we operate.’

‘The brands we are taking over are well established, with experienced staff and impressive heritage.’

Hertfordshire-headquartered Intent will see its staff count rise to 90 with the purchase.

Adrian Barrick, chief executive officer of UBM connect, the division which UBM is selling on behalf of, comments: ‘I am pleased we will pass stewardship of these well-established entertainment and technology titles to Intent Media, which focuses on serving specialist entertainment, technology and leisure markets.’

The buy comes a week after UBM acquired a 70 per cent stake in US-based catering tradeshow business Catersource for £3.13 million.

According to a statement Intent is to open an additional office in London this summer.

Dinsey concludes: ‘Our policy of investment in online and events will continue, whilst ensuring longevity where possible for the core print titles.’