Press Release: SourceMedia Announces Acquisition by Observer Capital
SourceMedia today announced its acquisition by Observer Capital from Investcorp. SourceMedia is a New York City-based diversified business-to-business digital media company serving the financial, technology and healthcare industries. In making the acquisition, Observer Capital affirmed its support for SourceMedia's vision and strategy, and its commitment to the company's growth.
SourceMedia's portfolio comprises many of business-to-business media's strongest brands, including American Banker, The Bond Buyer, Financial Planning and Accounting Today. The company offers clients and paid subscribers digital news and information services, industry research and data applications, in-depth conferences and seminars, and specialized marketing services. Over the past four years, SourceMedia has refocused its business to digital-first publishing, marketing solutions, and performance marketing and demand generation. Under the leadership of its chief executive officer, Doug Manoni, the company has successfully enhanced its reputation for providing superior content across all channels, as evidenced by the growth of its paid audience base and its numerous journalism awards. Observer Capital's acquisition will enable SourceMedia to accelerate the digital evolution of its portfolio.
"I am excited to move forward with Observer Capital as a partner," said Doug Manoni. "Observer Capital shares our vision for SourceMedia's development and growth. We are passionate about continuing the digital evolution of these storied brands and strengthening our portfolio of services on behalf of our clients and subscribers. We are gratified by Observer's commitment to the company's growth and its support of our vision."
This is the first major acquisition for Observer Capital, which was founded in 2013 by Joseph Meyer. Observer Capital is focused on private equity and special situation investments, partnering with talented management teams to build and grow businesses.
"SourceMedia is an impressive collection of leading media brands, delivering high-quality products and services in markets of critical importance to the economy," said Joseph Meyer. "We believe the B-to-B market is poised for growth, particularly with the application of new digital technologies - and we see SourceMedia as an ideal platform from which to pursue that growth. The SourceMedia management team has a well-defined vision and strategy, has executed it extraordinarily well, and we're eager to be part of their future."