New York – United Business Media Ltd. (UBM), parent company of PR Newswire, acquired Virtual Press Office (VPO) December 14. UBM will integrate VPO’s communications and marketing services into its Global Events platform.
Launched in 1996 and owned by private shareholders, VPO provides press release distribution, lead capture, social media and other communications services to trade show organizers. “Bringing VPO and PR Newswire’s capabilities together creates a complete, integrated communications service specifically tailored for live-event marketers,” said David Levin, CEO of UBM. “We will leverage this across UBM’s own global events portfolio and will also offer it to other event organizers, exhibitors and attendees worldwide.”
VPO’s co-founders, CEO Peter Brand and COO Tom Cherry, will join PR Newswire and lead the integrated Global Events team. The acquisition was made for $6.5 million in cash and a performance-related consideration of $3.5 million payable over three years.