New York, New York – (via THE
HOSTING NEWS) – August 3, 2005 – Jupitermedia Corporation today announced
that it has signed a definitive agreement to sell its Search Engine Strategies
trade shows and its ClickZ.com Network of web sites, including its well known
for $43 million in cash, subject to certain post-closing adjustments. The purchaser
is London Stock Exchange listed media company Incisive Media plc. The transaction
is expected to close in August 2005 and is subject to customary closing conditions.
Alan M. Meckler, Chairman and CEO of Jupitermedia Corporation explained the strategy
behind the sale, ”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. This sale is evidence of our intent to
be even more aggressive in the licensing and distribution 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 acquisitions,” added Meckler.
The Jordan Edmiston Group, Inc. acted as financial advisor and Willkie Farr
and Gallagher LLP provided legal representation to Jupitermedia for this transaction.
Jupitermedia Corporation (www.jupitermedia.com)
is headquartered in Darien, CT, and is a leading global provider of original
information, images, research and events for information technology, business
and creative professionals.