Apprise Media has sold its Canon Communications B-to-B media platform for UBM for $287 million. Canon Communications LLC announced that it has agreed to be acquired by United Business Media Limited, a global business media company. The agreement was arranged by Apprise Media, LLC, the management/investment company of Canon Chairman and CEO Charles G. McCurdy, and Spectrum Equity Investors, Apprise's private equity partner. Apprise and Spectrum acquired Canon in 2005.
Over the past five years, Canon Communications increased its scope of products, services and delivery platforms supporting the advanced manufacturing and design sector. Canon offers trade shows in eight countries around the world, up from two, as well as many more offerings around the United States. Digital and data comprise 40% of Publishing revenues.
Apprise will be involved in the transition period following UBM's formal acquisition. McCurdy and Behringer plan to continue their roles as managing investors in media companies through Apprise Media.
UBM is a global media business focusing on two principal activities: worldwide information distribution, targeting and monitoring; and, the development and monetization of B2B communities and markets. UBM's businesses inform markets and serve professional commercial communities with integrated events, online, print and business information products.