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.
