INT Media to Acquire Jupiter Research Business
Posted on June 28, 2002INT Media Group, Inc. announced that it has signed a definitive agreement to acquire the assets of the Jupiter Research and Events businesses from Jupiter Media Metrix, Inc. of New York City for $250,000. The transaction is expected to close by July 31, 2002. Alan M. Meckler, Chairman and CEO of INT Media, said that Kurt Abrahamson, President of Jupiter Research, will continue on as president of the research division with INT Media Group. Meckler also said that INT Media would retain the Jupiter name.
"We are ecstatic to be able to acquire one of the great world brands in market research," said Meckler. "Jupiter offerings will be totally integrated within our network as well as our 175 email newsletters with nearly 5 million subscribers and our 45 annual seminars and trade shows. We are also pleased to announce that Kurt Abrahamson, President of Jupiter Research, will continue in the same capacity with INT Media Group. We plan to retain the Jupiter brand name and will operate Jupiter as a division of INT Media Group. If completed, we expect that this acquisition will be neutral to earnings in 2002 and accretive in 2003."