Global business media company United Business Media (UBM) has bought Next level, a provider of international sales, marketing and analytical services, for up to $11.5 million (£5.8 million).
Global business media company United Business Media has bought Next level, a provider of international sales, marketing and analytical services, for up to $11.5 million (£5.8 million).
On completion UBM paid $5 million (£2.6 million) for the $3.6 million (£1.8 million) turnover business and a further $6.5 million (£3.3 million) is expected if certain conditions are met.
Miami-headquartered Next Level was purchased specifically to support UBM’s Everything Channel division and the deal is expected to meet UBM’s 8 per cent post-tax cost of capital acquisition criterion in its first year of ownership.
Robert Faletra, Everything Channel CEO, said: “In today’s economic environment, sales support and the ability to drive incremental revenues from existing and new channel partners is extremely important to technology manufacturers.”
UBM supplies professional and commercial buyers and sellers with media products that integrate events, online, print and business information. In 2007, the company turned over £800 million, with operating profits of £176 million.