UBM buys Canon Communications

Acquisition-prone United Business Media (LSE: UBM) says it is buying Canon Communications, a company which operates manufacturing and medical tradeshows and related media, for $287 million.

The publisher says Canon will complement its electronic engineering business to enhance its information and marketing services.

UBM is making the acquisition from Canon owners Spectrum Equity Investors and Apprise Media LLC; the price is 7.8 times Canon’s pre-tax profit. Canon publishers Qmed.com, Medical Device Register, PharmaLive, e-knowledge base, PlasticsToday and other online services.

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