WebMediaBrands acquires Inside Network (publisher of InsideSocialGames) in a $14 Million dollar cash and stock deal. The Palo Alto based Inside Network staff will stay put in Cali. Kudos to IN as they are without a doubt, the best in the business. Articles and analysis from:
TechCrunch ” It’s a smart deal for WebMediaBrands as Inside Network will provide WebMediaBrands with insight by way of their content, research, and rich data they pulled in from their App Data product, which tracks social applications. “
GigaOM ” All these properties have strong advertising support from the verticals they support. The Inside acquisition gives WebMediaBrands a very strong stable of writers and analysts, as well as gives the company an even bigger presence on the West Coast. “
PaidContent.org ” The deal means that WebMediaBrands will now arguably be the leader in the social media news market, especially when it comes to Facebook-specific news. “
Business Wire (press Release) Terms for the transaction included payment of $7.5 million in cash and 4,183,130 shares of the common stock of WebMediaBrands. WebMediaBrands expects that this acquisition will be immediately accretive to its earnings and cash flows.