UBM buys Content Marketing Institute for $17.6m

UBM has acquired Content Marketing Institute (CMI) for $17.6m with an additional earn-out subject to meeting profit targets over the next two years.

CMI produces Content Marketing World, which is an annual event in the content marketing sector that runs every September in the Cleveland Convention Center, Ohio. Last year, it attracted over 3,500 attendees from 55 countries.

The company also produces several supporting conferences and websites that serve the content marketing community. In 2015, it had revenues of around $9m-$6m from events and $3m from other marketing services.

Chief executive officer Tim Cobbold said: “Our ‘Events First’ strategy focuses on improving the quality of UBM’s portfolio and Content Marketing World, as the leading event in this high-growth sector, enhances our portfolio and strengthens our leading position in the US events industry.”