UBM seals £599m Advanstar deal

Marketing and communication group UBM has completed the acquisition of US-based VSS-AHC Consolidated Holdings for £599m.

The group said that by purchasing the American firm, also known as Advanstar Communication, it has become the biggest event business in the US in terms of revenue.

The US-based group operates 54 tradeshows and approximately 100 conferences as well as producing 30 publications and almost 200 websites.

"Advanstar brings a portfolio of market-leading, `must-attend' events which serve customers in growing markets, particularly the US fashion industry," said group chief executive Tim Cobbold.

"The deal makes UBM the largest events business in the US, the world's biggest events market, complementing the strength of UBM's portfolio in emerging markets.

"The addition of Advanstar accelerates our `Events First' strategy to drive profitable growth for UBM's shareholders."

The company added that its trading and outlook for the full year remained in line with expectations.