B2B Media Co. Has New Owner

July 1, 2000

1 Min Read
B2B Media Co. Has New Owner

B2B Media Co. Has New Owner

WESTON, Conn.--Cygnus Business Media,www.cygnuspub.com, a business-to-business (B2B) media company, was acquired on June 27 by CommerceConnect Media. Cygnus is the publisher of 48 trade magazines, including Health Products Business.

Cygnus also owns 16 trade shows and conferences and 17 custom publications. According to its new owners, its employees will retain their positions, including senior personnel.

Cygnus' sale price is almost $200 million higher than its sale price just three years ago [$97 million versus $275 million.] Some speculate the dramatic increase in value is due to a general increase in the value of allB2B companies.

"Cygnus Business Media is a solid foundation which CommerceConnect Media will use in order to strategically growand expand its lead in the business-to- business communications marketplace," saidPaul Mackler, chief executive officer of CommerceConnect, and new president of Cygnus. "We plan to offer a wide variety of print, live and interactive media products and services to the millions of business executives, marketers and professionals in each market we serve."

CommerceConnect is a young company--only 8 months old. "When we formed CommerceConnect, the goal was to identify and acquire a leading company that provides a variety of media solutions in each market we serve," said Mackler. "One of the many things that appealed to us about Cygnus is that they were already well on their way."

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