Jupitermedia Corporation has sold its ClickZ.com network, SearchEngineWatch.com and SearchEngine Strategies show to UK based Incisive
Media plc for $43 million in cash, the companies announced today.
The deal is expected to close this month.
Incisive Media is a London-based business information provider with interests in seven markets, including retail investment, insurance, financial risk management, mortgage, capital markets/financial IT, private equity and
photographics.
Jupitermedia is the parent company of this publication and the
internet.com, DevX.com and Earthweb networks. Jupitermedia also operates a
commercial images division called JupiterImages, which has been on a bit of
acquisition spree over the past year. At the beginning of July, Jupitermedia
purchased California-based stock photography firm PictureArts
Corporation for $62 million.
In February, Jupitermedia acquired Creatas for $38.1 million in cash and stock. Comstock images was acquired in April of 2004 by Jupitermedia for $20.85 million in cash.
“This sale is evidence of our intent to be even more aggressive in the
licensing and distribution of commercial images,” Alan M. Meckler, Chairman
and CEO of Jupitermedia, said in a statement. “The funds received
from the sale will strengthen our balance sheet and allow us to have greater buying power for more image acquisitions.”
News of the deal comes as the next SearchEngineStrategies show is set to get underway in San Jose on August 8. The show is a global event with conferences taking place in Toronto, Tokyo, London, San Jose, Stockholm,
Chicago, New York and Munich.
“SES {search engine strategies} has all the hallmarks we look for in our acquisitions: this is a high margin business with robust core earnings, and
it is a market leader in a strong and rapidly growing global market niche,”
Tim Weller, Chief Executive of Incisive Media, said in a statement.
The ClickZ.com network itself was acquired by Jupitermedia (then called internet.com) in September 2000 for $16 million in cash and stock.
