Ziff Davis sells enterprise group, some publications
Ziff Davis Media announces plans to sell its enterprise group for approximately $150 million in cash to a New York-based private equity and venture capital firm.
Ziff Davis Media announced Thursday plans to sell its enterprise group for approximately $150 million in cash to a New York-based private equity and venture capital firm.
An affiliate of Insight Venture Partners of New York is snapping up Ziff's publications EWeek, Baseline and CIO magazines, according to Ziff's announcement.
Ziff is also selling a number of online publications as part of the deal. These include EWeek.com, Web Buyers Guide, CIOInsight.com, Baseline, Microsoft Watch, Channel Insider and DeviceForge.com.
The sale of these online properties, ironically, comes as a number of brick-and-mortar print publications are searching for ways to grab an online presence, in order to chase after advertising dollars migrating online.
The deal, which is expected to close in the third quarter, also wraps in the company's worldwide events and database of 3.5 million users.