United Business Media plc has closed two acquisitions in a bid to increase its firepower in the US.

In two separate deals, the business media company acquired Miami-based news distributor HispaniMark, LLC on behalf of PR Newswire, and Mass Events Labs on behalf of CMP Technology.

The HispaniMark deal went through for $5.5 million cash (£2.8 million), with a further performance-related consideration of up to $3 million (£1.5 million) payable over the next three years.

HispaniMark targets the Hispanic media and community by providing PR agencies and communication professionals with news distribution via Hispanic PR Wire, and related services via Hispanic Digital Network, LatinClips.

Charles Gregson, chief executive officer of PR Newswire, said: “The acquisition of Hispanic PR Wire, LatinClips and Hispanic Digital Network is in line with PR Newswire’s mission to enhance our multicultural services in the US and internationally through a combination of organic development and acquiring leading companies.” 

The tandem acquisition of Mass Events Labs completed for $1.2 million cash (£607,200), with a further performance-related consideration of up to $3.8 million (£1.9 million) payable over the next four years.

The Massachusetts-based company, a producer of custom events that are based on the Open Space methodology, has previously attracted sponsorship from companies such as Google, Sun, IBM and Yahoo. 

Tony Uphoff, president of CMP Technology’s Business Technology Group, commented: “Acquiring Mass Events enables CMP Technology to take another step in its transformation into a next generation media company that provides new ways to connect buyers and sellers.”