Purch sells B2C imprints to global specialist media publisher Future in $132m deal
Purch, a digital publisher and marketplace platform, announced today the agreement to sell its B2C business unit and all associated brands and services to Future US for $132m.
Purch sells off B2C imprints and adtech assets to UK-based publisher Future
The sale, expected to close in August, includes the Purch brand along with the full portfolio of consumer brands, including Tom’s Guide, Tom’s Hardware, TopTenReviews, ShopSavvy, Live Science, and Space.com. Future has also acquired also includes Purch’s adtech assets, including yield optimization platform, Ramp and its associated licensing business.
The existing B2B unit will move forward as Business.com, renamed after the B2B business’ marquee brand. Purch said that the B2B unit has grown considerably from the 2016 purchase of Business.com and other specialist imprint Buyerzone in 2014.
Greg Mason, Purch’s chief executive, said in a statement: “As CEO, it’s been a thrilling and rewarding experience to help guide the development of Purch as a leading marketplace-centered publisher.
"Our focus on content and commerce and the development of proprietary monetization technology enabled us to build a diversified and profitable business, while avoiding the challenges of ad-dependent publishing models. We are joining forces with a like-minded publisher with strong complementary assets. Future’s acquisition of the B2C business unit is an opportunity to grow Purch more rapidly and to realize its full potential.”
He added, of the synergy Purch and Future have: “This acquisition represents a tremendous opportunity to join forces with a like-minded publisher that sees the future of special interest media and publishing in much the same way we do.”
Future chief executive Zillah Byng-Thorne said: ”I've been impressed by the strength of Purch's technology platforms and the expertise of its people. Together we can build a combined organization that has scale and growth opportunities ahead. The two businesses share similar cultures - we both share our audiences' passion, we're data-driven, ambitious and both have an innovative mindset. From day one, Future will be number one in the US consumer technology sector, and beyond this we see clear opportunities for combined growth.”