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UBM acquires online advertising agency

23 Feb
Web marketing agency Game Advertising Online (GAO) has been acquired by United Business Media (UBM) in a deal valued at up to $8 million (£5.18 million).

The creative jobs provider - which works for publishers in the computer game industry - has been bought out of private ownership for an initial price of $1 million, which could go up by as much as $7 million depending on performance.

It specialises in placing adverts for online games on videogame websites and chief executive officer of UBM TechWeb Tony Uphoff said that the acquisition of the agency will add to the company's offering.

"GAO provides us with both revenue growth potential and a new business model that will serve us well as we look to expand our business with online game publishers," he remarked.

UBM currently has around 6,400 staff in over 30 countries. It also owns online news distribution service PR Newswire.ADNFCR-2176-ID-19631906-ADNFCR
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