Jupitermedia Sells Research Division
Page 1 of 1
Jupitermedia has announced the sale of its JupiterResearch division to investment company MCG Capital for $10.1 million.
Today, MCG merged its new property with another of its holdings, Kagan Research, to form JupiterKagan, Inc.
Jupitermedia CEO Alan Meckler said in a statement that yesterday's deal allows Jupiter "greater buying power for more acquisitions for [their] Jupiterimages division."
This echoes his own words following his company's 2005 sale of ClickZ.com, SearchEngineWatch.com and the SearchEngine Strategies show, when he said the funds received from the sale will allow the company to have great buying power for more image acquisitions.
In the months that followed the summer sale, Jupiter acquired Banana Stock, PR Direct, Bigshot Media, BBM.net, Agence Images, Animation Factory, The Beauty Archive Collection, and Crank City Music.
"Once we decided to sell events it made no sense for us to keep the research business," Meckler told internetnews.com in an e-mail. "[JupiterResearch] was a terrific business, which we salvaged when all others were afraid to roll the dice on a great brand."
Jupiterimages trades in original content, and Meckler believes content is his company's most valuable asset, which explains its acquisition binge.
"We have evolved into a powerful content and media company that will continue to expand both organically and through acquisition."
(Jupitermedia owns internetnews.com.)