CMP Media acquires TechOnLine and Light Reading, Inc.
TechOnLine products and services include: TechOnLine Webcasts, a service that showcases the latest product launches and product updates; custom courseware for specialized technical online courses; virtual campuses for companies to train and certify customers, partners and employees, as well as evaluate and demonstrate products; Private Campus Express, a customizable online learning environment for project-based programs; and, TechOnLine VirtualLab, a technology service that enables electronics technology professionals to connect and evaluate hardware through the Internet. TechOnLine ceo Derek Dunaway said the deal was "the next logical step for us as it compliments our current membership base. Our combined resources create the ultimate professional information and education source for the electronics technology industry."
Paul Miller, vice president and group publisher of the CMP Media Electronics Group. "By adding TechOnLine's rich offerings ... we're creating an incredibly valuable resource for our audience and becoming an even more integral part of their daily working life." CMP will retain the TechOnLine brand and current management will remain with the company.
Also, CMP Media has acquired Light Reading Inc. (New York), a provider of technology and financial analysis of the communications industry, for $27 million in cash. Light Reading was represented in the deal by The Jordan Edmiston Group (New York).
Established in February 2000, Light Reading focuses on producing independent content for a global audience of more than 400,000, as well as its customer base of 370 companies, including every leading public and private firm in the telecommunications industry. Light Reading services include: three market-leading online publications (Light Reading, Byte & Switch, and Unstrung), web-based seminars (webinars), live events, broadband television, paid research and advisory services, paid subscription newsletters and white papers, online directories, and sponsored e-newsletters. CMP said Light Reading leads all telecom media in terms of traffic, content, and reputation, and reaches every level of the telecommunications industry, including service providers, equipment manufacturers, and the business/financial community. It has a monthly audience in excess of 400,000 unique visitors.
Company founder and company ceo Stephen Saunders said "we created Light Reading in the belief that the Internet would revolutionize b2b publishing. We proved the point by posting six consecutive years of profitability and growth."
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|Date:||Sep 1, 2005|
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