United Business Media has acquired Lead in Research for up to £1.45 million.
International media group United Business Media (UBM) has acquired the online business information service Lead in Research (LIR) for up to £1.45 million.
An initial payment of £1.15 million upon completion will be followed by a deferred performance related sum of up to £300,000 at the end of 2010.
The acquisition was made by UBM on behalf of its media division, UBM Built Environment, which focuses on markets including property and construction.
Adrian Barrick, CEO of UBM Built Environment, comments: ‘We are pleased to have acquired a high quality product that we can use to respond to our clients’ requests for additional product offerings in post-construction lead supply, as well as helping us to attract new customers.’
Warwickshire-based LIR tracks commercial activity to provide business intelligence leads on topics including UK public sector tenders and company expansions. The company employs five staff and in the year to May 2010 had a turnover of around £400,000.
London-based UBM has around 5,900 staff across 30 countries, and in 2009 declared an operating profit of £171 million on a turnover of £847 million.