WebMediaBrands Buys Social Media Trade Show Firm 3rd Power
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Making its second purchase in a month, WebMediaBrands (NSDQ: WEBM) has picked up social media trade show company 3rd Power LLC, which is best known for putting on shows like the Virtual Goods Summit and Social Gaming Summit. CEO Alan Meckler tells MediaBistro (which is owned by WebMediaBrands) that his company will expand 3rd Power’s shows both in the United States and in Europe this year.
SEE ALSO: WebMediaBrands Acquires Social Times; Meckler: One More Acquisition This Year
The purchase follows WebMediaBrands’ acquisition of social media blog publisher Social Times in early December. At the time, Meckler told us that he expected to close one more purchase before the end of the year—and he just barely made his deadline; the purchase was announced via MediaBistro on Dec. 31.
Social Times puts on a social media trade show of its own—the Social Ad Summit—so there will presumably be some room for synergies there.
Financial terms were not disclosed, although MediaBistro says WebMedia is buying the company from Charles Hudson, who is a VP at social games developer Serious Business. Hudson is staying on as a consultant.
WebMediaBrands has been in acquisition mode ever since it sold its Internet.com unit to online marketing firm QuinStreet for $18 million in August.
Posted In: Media & Publishing, Money, M&A & Venture Capital, Mergers & Acquisitions, Social Media
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