United Business Media (LSE: UBM) is buying a corporate webcasting firm to put together with its PR Newswire.
Hong Kong-based Corporate360 facilitates webcasting, event management, transcription and translation for events like investor relations meetings.
The acquisition is an initial $350,000 in cash, with up to a further $1 million possible over the next three years based on performance. Corporate360’s two founders are joining PR Newswire proper. The company services Hong Kong, China and Asia-Pac and, UBM says, expects to hit $400,000 in revenue this year. It’s a suitable addition to the PR Newswire family, allowing it to extend in to multimedia broadcasting.