Incisive Media spends $43 million in cash to expand into the "search" market.

Incisive Media plc,, the British publisher of business information in seven markets, recently acquired Jupitermedia Corporation's Search Engine Strategies (SES) trade shows and its ClickZ.com Network of websites, including its well-known SearchEngineWatch.com. Incisive Media paid $43 million in cash, "subject to certain post-closing adjustments."

"I am very excited about this deal, which takes Incisive Media into probably the most exciting marketing services niche that there is: 'Search," said chief executive Tim Weller.

"Search has rapidly become the 'killer application' of the internet and is the main driver behind the growth of internet ad spending throughout the world. The SES conference series, supported by the ClickZ websites, are the primary source of information on search engine marketing and optimization."

Weller continued, "This deal has all the hallmarks we look for in our acquisitions and more: this is a very high margin business with robust core earnings, and it is the market leader in a strong and rapidly growing global market niche."

The publicly traded Incisive Media will issue 8.2 million new shares of ordinary stock to raise $21.8 million of the purchase price. It will finance the rest through increased debt facilities from the Royal Bank of Scotland.

Incisive Media publishes some two dozen newsletters and magazines focusing on retail investment, insurance, financial risk management, mortgage, capital markets and financial IT, private equity, and photographic.

It also delievers "key information to defined target audiences" in person via conferences and exhibitions and online through its various websites.

Its leading brands include Investment Week, Post weekly magazine, and the monthlies Risk, Financial Marketing, and Hedge Funds Review.

Weller also said that the acquisition will "enable Incisive Media to strengthen its footprint in the U.S. and to roll out the SES model across the other territories in which Incisive currently operates."

Jupiter narrows its focus

Alan M. Meckler, chairman and CEO of Jupitermedia, said, "As Jupitermedia increasingly focuses its efforts on its commercial images operations, we have looked for ways to redeploy assets to more rapidly grow our JupiterImages division.

"The sale of these properties is evidence of our intent to be even more aggressive in the sale of commercial images. The funds received from the sale will strengthen our balance sheet and allow us to have greater buying power for more image acquisition," Meckler said.

Jupitermedia also publishes about 150 online newsletters, most of them free.

The Jordan, Edmiston Group Inc. of New York City represented Jupitermedia in the transaction.

Incisive Media, 2nd Fl., Haymarket House, 28-29 Haymarket, London, SW1Y 4RX, UK, (440(0)20-7484-9700, fax [phone], www.incisivemedia.com

Jupitermedia, 23 Old Kings Highway South, Darien, CT 06820, 203-662-2800, fax [phone], www.jupitermedia.com

Jordan, Edmiston, 150 East 52nd St., 18th Fl., New York, NY 10022, 212-754-0710, fax [phone], www.jegi.com