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BREAKING NEWS & VIEWS

UBM Expands Virtual Biz with Astound Acquisition
Thursday, September 2, 2010

UBM Studios, a division of United Business Media, has acquired Astound LLC, which hosts virtual job fairs for the military-related industries. Its Milicruit and Unicruit career fairs target veterans and graduating students. The deal is valued at $3.1 million.

The acquisition expands UBM Studios’ existing virtual events and business product line. Astound brings to UBM major brand clients such as GE, Raytheon, Walgreens and Verizon.

The move underscores UBM Studios’ ambitions in the virtual career fairs segment. Apparently this won’t be the last acquisition for the unit.

“This is the first step in our strategic initiative to significantly enhance our portfolio,” said SVP, managing director Ken Spellman in a statement. “We are pleased to harness our technology expertise to offer virtual career solutions that will streamline the recruitment process for recruiters and individuals seeking employment.”

UBM already hosts virtual job events for its Medica Psychiatric Times product and the Asian MBA market.

If you have breaking news to share please contact Steve Smith at ssmith@accessintel.com

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