Technology publisher Ziff Davis, US, has announced that it has been acquired by former Time Inc. executive Vivek Shah in partnership with Boston-based Great Hill Partners. Specific financial terms of the acquisition were not disclosed.
The acquisition represents the first step in building a new digital media company that specialises in producing and distributing content for consumers making important buying decisions. The nine Ziff Davis properties being acquired are PCMag.com, ExtremeTech, GearLog, GoodCleanTech, DL.tv, AppScout, CrankyGeeks, Smart Device Central and TechSaver.com, which reach over 7 million users per month.
Shah, in over 14 years at Time Inc., created one of the company's most successful digital ventures in CNNMoney.com, which claims to be the 2nd largest financial site on the Web. Shah also oversaw some of the company's other large digital businesses, including Time.com and SI.com, and previously served as the president of Fortune and Money magazines. An active member of the digital media community, Shah serves on or has served on the boards of TheStreet.com, ShareThis and the Interactive Advertising Bureau, and on the advisory boards of AdSafe Media and Outbrain.
