RealTime IT News

Jupitermedia Snaps Up DevX.com

Aiming to extend its offerings for developers, Jupitermedia Monday snapped up developer resource community DevX.com for $2.25 million in cash and 200,000 restricted shares of Jupitermedia common stock.

DevX is a provider of technical information and services for corporate application development. Its sites range from Windows and Web development to .NET, Java, XML, C/C++, Visual Basic, Database and Wireless. It offers its resources through three channels: its public DevX.com Web site, DevX Vendor Development Portals and DevX Corporate Development Portals.

Jupitermedia said it will assume certain DevX.com liabilities as part of the transaction.

"The acquisition of DevX.com and its large developer-oriented readership further extends our resources for the Web development community," said Alan Meckler, chairman and CEO of Jupitermedia. "DevX's methodology and expertise for creating custom portals for clients brings new revenue opportunities to Jupitermedia."

Meckler said Peter Horan, president of DevX, will join Jupitermedia, where he will continue his role as president of the DevX.com Network. Meckler also noted the company expects to drive marketing and business synergies between the new DevX.com assets and the company's existing internet.com, EarthWeb.com, and ArtToday.com networks, as well as its trade shows.

"We expect that this acquisition will be neutral to our earnings in 2003 and accretive in 2004," Meckler said.

Jupitermedia is the parent of internetnews.com.