United Business Media, through its online gaming subsidiary UBM TechWeb, has acquired Game Advertising Online (GAO) for up to $7 million (£4.5 million).
United Business Media, through its online gaming subsidiary UBM TechWeb, has acquired Game Advertising Online (GAO) for up to $7 million (£4.5 million).
New Zealand-based GAO is a banner advertising agency specialising in the online computer game industry. The company provides access to 50 million users and is expected to generate revenue of $4 million in the year to March 2010.
Tony Uphoff, CEO of UBM TechWeb says: ‘GAO provides us with both revenue growth potential and a new business model that will serve us well as we look to expand our business with online game publishers and with consumer-oriented online game websites.’
The deal comes after United Business Media’s acquisition of marketing company Virtual Press Office in December last year.
In the six months ending June, London-based United Business Media reported a fall in revenue of 2 per cent to £435 million, while operating profits dropped 13 per cent to £78.3 million.
