Dow Jones & Company Inc. Acquires eFinancialNews.com for $51.8 Million
Dow Jones & Company, a firm that is listed under the New York Stock Exchange as DJ has announced that it has entered agreements to acquire eFinancialNews Holdings, Ltd., a U.K. based website that serves financial content.Â The amount would be for â‚¤26.1 million (equivalent of $51.8 million).
eFinancialNews provides weekly news publications, weekly European Private Equity articles, and also offers training events for those who are interested in investment banking, private equity, trading, and asset management.
“Acquiring eFinancialNews is wholly consistent with our mission to serve customers with indispensable business and related content wherever, however and whenever they desire,” stated Rich Zannino, the CEO of Dow Jones. “eFinancialNews is a very well-run multimedia company with highly regarded brands, content, products and services. Its fast-growing print, online, training and events businesses will enhance the growth and profitability of our European consumer and enterprise media operations and add successful digital and other non-print businesses to help diversify our reliance on traditional print revenue.”
eFinancialNews’ revenue for 2007 was â‚¤15.4 million (equal toÂ $30.55 million).Â The transaction is expected to close by the end of the 2nd quarter.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry