The Financial Times has purchased a controlling stake in Amsterdam-based media company The Next Web. It’s the FT’s first acquisition in continental Europe, the company said. Terms of the deal were not disclosed.
TNW was founded in 2006, and has become a source of predominately Europe-centric tech news. It’s also expanded its offerings over the years with event forays and a market intelligence platform.
The two companies had announced editorial partnerships in the past–and now we see why the two businesses were talking. The FT said that this is part of its overall acquisition strategy going forward. The 131-year-old media company has been both purchasing and investing in various businesses including the research provider Longitude and the media company Alpha Grid.
The venerated newspaper has been one of the few media companies able to remain relatively stable during the big digital media shift. It’s dabbled in monetization models that have proven to be good bets, while other companies flailed as Google and Facebook began to eat up most of the digital advertising marketshare. This acquisition indicates that the FT is looking into new ways it can increase its global prominence.
It’s unclear if the scope of TNW will change; FT Live global publisher Angela Mackay said in a statement: “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.”
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