United Business Media acquires Canon Communications for $287 million

United Business Media (UBM), a UK-based provider of business information services to the technology, healthcare, and financial services industries, has agreed to buy Canon Communications, a provider of tradeshows and related media products for $287 million.

Los Angeles, California-based Canon Communications is a mass media company that publishes and produces 13 magazines, 54 trade shows and events and 21 web sites.

It is the leading producer of trade events, publications, and electronic media for the world's $3 trillion advanced, technology-based manufacturing industry leveraging brand credibility and reach of more than 30 electronic and print publications with more than 600,000 readers across the globe.

It also produces 60 trade shows in 8 countries, with more co-located shows than any other business-to-business media company.

Ireland-based UBM will acquire Canon Communications from Spectrum Equity Investors and Apprise Media for $287 million (£185 million).

The acquisition of Canon brings UBM event leadership in the attractive, growing MD&M market, said UBM in a statement.

Industry analysts forecast that the fragmented and innovative market for medical devices will grow globally at 6 per cent CAGR 2009-12, with the highest levels of growth coming from the Asia-Pacific region.

Founded in 1918 as United Newspapers, UBM has grown through acquisitions including the buyout of PR Newswire in 1982 and Express Newspapers in 1985.