/2016/06/01/307146/
UBM has announced the acquisition of Content Marketing Institute (CMI), the producer of Content Marketing World.
UBM has bought CMI for US$17.6m (approx. £12.2m), with an additional earn-out subject to meeting profit targets over the next two years.
Content Marketing World is an event which takes place every year at the Cleveland Convention Center in Ohio, attracting more than 3,500 attendees from 55 countries. CMI also produces a number of conferences and websites designed to serve the marketing community.
UBM CEO Tim Cobbold commented: “Our ‘Events First’ strategy focuses on improving the quality of UBM’s portfolio and Content Marketing World, as the leading event in this high-growth sector, enhances our portfolio and strengthens our leading position in the US events industry.”
In 2015 CMI revenues were approximately US$9-$6m (£6.2m-£4.2m) from events and $3m (£2.1m) from other marketing services.
