UBM Acquires The Fuel Team
United Business Media Limited announced today that it has acquired The Fuel Team (TFT) on behalf of PR Newswire for $2.5 million, with the potential for up to an additional $4.5 million over three years.
The Fuel Team builds and hosts specialist Web site modules (or microsites) for communications professionals working in businesses, healthcare and not-for-profit organizations. The Fuel Team's products give communications professionals control over their online content and communication initiatives to engage their audiences online. The Fuel Team’s principal products are MediaRoom, IR Room, CauseRoom, CampaignRoom and PhysicianRoom.
The Fuel Team and PR Newswire have partnered since 2004 to provide the MediaRoom and IR Room products to PR Newswire customers. The acquisition of The Fuel Team gives PR Newswire access to a wider set of high-quality microsite products which can be marketed to PR Newswire’s global customer base both on a standalone basis and as part of an integrated offering to professional communicators
"We are delighted to have acquired The Fuel Team, which is a natural extension of our business and represents the next step in a very successful partnership," said Ninan Chacko, CEO of PR Newswire. "We are looking forward to working together even more closely to further enhance the Fuel Team technology, building new products that can help communications professionals to engage their key audiences online even more effectively."