Financial Times acquires controlling stake of The Next Web to bulk up events portfolio
The Financial Times has made a significant expansion into tech, mainland Europe and events by taking a controlling stake in The Next Web for an undisclosed fee.
Financial Times buys The Next Web promising event ‘synergies’
The FT is promising “synergies” between The Next Web and FT Live events in particular. It said its acquisition of the Amsterdam-based events and media company also complements its recent launch of Sifted, its new entrepreneur data platform.
Angela Mackay, FT Live global publisher, said: “TNW is an established and profitable business that produces one of the largest and most critically acclaimed tech startup events in Europe. There are clear synergies between TNW and FT Live, in sharing audiences and delivering the FT’s world class journalism on live stages in Europe. We look forward to delivering first class programs with our new partners.”
Boris Veldhuijzen van Zanten, chief executive of TNW’s, added: “It is a huge honor to work together with a company with such a rich history, which is so well respected and well known around the world. FT has a global vision for the future, a future where business and technology audiences are converging and form the thriving force of our society. We look forward to working together in this digital-first age and combining our expertise, networks and influence.”
The move is part of the FT’s diversification plan that has included acquisitions of content production company AlphaGrid, intelligence company GIS Planning and research firm Longitude.