New York
– Technology publisher Ziff Davis has been acquired by former Time Inc.
executive Vivek Shah, with financing from Great Hill Partners.
Financial terms
of the transaction were not disclosed.
The deal includes nine Ziff Davis
properties, including PCMag.com, ExtremeTech and AppScout, which draw a
combined over 7 million monthly unique users.
The acquisition was termed
"the first step in building a new digital media company that specializes
in producing and distributing content for consumers making important buying
decisions."
Shah was with Time Inc. for over 14 years, serving as
president of Fortune and Money magazines, and eventually overseeing Time.com
and SI.com.
"This is an unusual opportunity to acquire a recognized
category leader with a very deep team of talent that has already fully
transitioned to digital," said Shah, who begins today as CEO of the new
Ziff Davis.
"Ziff Davis is an incredible foundation off which to build an
exciting new digital media company focused on delivering fantastic content to
our audience and unprecedented opportunities to marketers."
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