VNU Grows Once More 21/07/00 Global media and information giant, VNU has entered into a definitive agreement with United News & Media plc, to acquire Miller Freeman, Inc. (Miller Freeman USA) in a cash transaction worth US$650 million. Miller Freeman USA is one of the world's largest trade show organisers and a leading publisher of business magazines and developer of online marketplaces serving key business segments in the United States and Latin America. These include sports and apparel, jewellery, gift and merchandise, property and construction and travel. Furthermore, there is an opportunity to leverage Miller Freeman USA's offline marketing expertise and brands on to the Internet as they are potentially suited to become leading business-to-business content and commerce sites in their respective business segments. The combination of VNU and Miller Freeman USA further enhances the company's position as a leading business-to-business media and information company, and fits VNU's explicit strategy of expanding its professional information activities. More specifically, the acquisition fits VNU's strategic objective of pursuing growth through acquiring high margin, market-leading branded information businesses with attractive growth prospects. The strategic fit between Miller Freeman USA and VNU is reportedly excellent. Miller Freeman USA's expertise in running trade shows, in conjunction with the publishing and trade show expertise of VNU, will provide opportunities to launch complementary exhibitions and trade publications. In addition, the marketing and media information expertise at business units like Spectra, Scarborough and Nielsen Media Research will allow VNU to offer a broader suite of marketing information products and services within Miller Freeman USA's business groups. On a pro forma basis after the transaction, approximately 50% of VNU's revenue will derive from the USA. VNU's business units and respective revenue contributions will be as follows: business and marketing information (59%), directory information services (14%), consumer magazines (24%), and educational publishing/other (3%).