PennWell Acquires LEDs Magazine
PennWell Corp., a diversified, global media and information company, recently announced its acquisition of LEDs Magazine, a business-to-business digital magazine and Web site (http://www.ledsmagazine.com) covering the technology and applications of Light Emitting Diodes (LEDs). Financial terms of the sale were not disclosed.
Tim Whitaker, founder of LEDs Magazine in 2004, will join PennWell as publisher/editorial director to continue the growth of the magazine in the fast-growing LEDs marketplace. Whitaker will remain based in Bristol, U.K., where he operated the business prior to the sale to PennWell. He will report to Christine Shaw, senior vice president of PennWell’s Optoelectronics Group based in Nashua, N.H.
The LEDs Magazine and Web site also produce a weekly e-newsletter and annual “LEDs Suppliers Directory” to serve over 20,000 readers who specify, design and manufacture LED-based products.
“This acquisition is a highly strategic fit with our portfolio of information products serving the optoelectronics markets, including our research business Strategies Unlimited, our annual conference and exhibition Strategies in Light, and Laser Focus World magazine,” says Robert F. Biolchini, PennWell’s president and CEO. Biolchini added that the LEDs market will grow from a $4 billion market in 2006 to over $9 billion by 2011 for an annual compound growth rate of 17 percent.