Exhibition organiser and publisher United Business Media (UBM) has announced its acquisition of Astound, a privately-owned American virtual career fairs business.
Astound was purchased on behalf of UBM Studios for an initial cash payment of US$120,000 and further performance-related consideration of up to $3m over the next three years.
This latest acquisition by UBM expands the company’s virtual events business. Recent virtual fairs by UBM Studios include the Psychiatric Times Virtual Career Fair and Housing Now.
“The acquisition of Astound fits perfectly into our strategy of building on the strengths of our existing products and services to expand into adjacent markets,” says Kate Spellman, senior vice president and MD of UBM Studios.
UBM Studios already has virtual recruiting fairs in Asia and the UK.
Astound’s Fortune 500 clients include Raytheon, Walgreens, Verizon, Amazon, FedEx and Target.