UBM Buys 3D Careers Fair For Military Leavers

With U.S. military operations in Iraq being wound down, there will likely be a lot of servicepeople coming home on to the civilian jobs market.

Business publisher United Business Media (LSE: UBM) says it’s buying Astound, a virtual careers fair company whose Milicruit recruitment service puts job-seeking troops in a 3D computer environment to meet potential employers.

UBM says the initial cash payment is $120,000, with up to $3 million more payable over the next three years, based on performance.

UBM, which also runs many conferences and events, has already been in the virtual careers fair business through its UBM Studios wing, with events like Psychiatric Times Virtual Career Fair.

Astound also runs Unicruit, a recruitment site for university leavers. The company claims GE, Raytheon and Amazon (NSDQ: AMZN) amongst recruiters.