CMPi parent company United Business Media has confirmed it is looking to continue a programme of acquisitions in the business-to-business sector.
In a strategic update today, the company – which owns PR Newswire and trade titles including Music Week, Pulse and Building – said it was looking to spend between £150m and £250m a year on acquisitions in 2008 and 2009.
The sum set aside means UBM has effectively ruled itself out of a bid for Emap’s profitable B2B magazines division, which has been valued by analysts at around £1.2bn.
UBM chief executive David Levin said the business-to-business sector continued to offer “attractive growth opportunities”.
“We will invest in markets that offer sustainable growth opportunities which take advantage of the worldwide reach of UBM’s businesses,” he said.
Last year, the company set aside between £300m and £500m to spend on acquisitions by March 2008, and has so far bought around £250m in new assets.
Recent purchases have been mostly in the events sector – including annual interior design show Decorex and Energy Solutions Expo.
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