PRNewswire Parent United Business Media Acquires Virtual Press Office for $10 Million

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United Business Media (LSE: UBM) has acquired New Jersey-based Virtual Press Office for $10 million. UBM, parent company of PRNewswire, is doubling down in the PR services market, as it moves away from B2B print media.

VPO specifically focuses on the trade show market, offering “online press office management and trade show news distribution solutions.” The company was founded in 1996 and works with more than 400 events. VPO’s co-founders Peter Brand and Tom Cherry will join PRNewswire, PaidContent reports.

VPO has also partnered with BusinessWire in the past.