San Francisco-based VentureOne will become a wholly owned subsidiary of Wicks Business Information, under the deal announced Monday. Wicks Business Information is an affiliate of The Wicks Group of Companies, a New York-based private equity firm specializing in communications, information and media businesses.
Terms of the deal were not disclosed.
Wicks, which has acquired a number of business-related publications during the past 18 months, concentrates on growing through acquisitions and developing business magazines, newsletters, trade shows and conferences.
In July, the company acquired eight newsletters from The Economics Press including "Better Supervision," "First Rate Customer Service" and "Office Hours." Last September, it purchased Asset Alternatives, publisher of "The Private Equity Analyst."
VentureOne, which offers online subscriptions for its research, covers venture capital, one segment of the private equity market. The industry has been under pressure as venture funding for start-ups has been scaled back dramatically and as initial public offerings and buyouts have largely dried up.
Investors in these venture funds have also become far more skittish, making matters worse.
VentureOne was purchased by media company Reuters in 1999 and was spun off as part of its reorganization efforts, a VentureOne representative said. The deal still awaits shareholder approval and is expected to close Oct. 8.