Ziff Davis Purchased by Former Time Digital Executive Vivek Shah and Great Hill Partners

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Though the technology publisher Ziff Davis has had some profound financial problems over the past several years, all of this may be coming to an end. The company has been purchased by Bivek, a former executive of Time Inc, in partnership with the Boston private equity firm of Great Hill Partners. No terms of the deal were disclosed.

Ziff Davis controls nine properties which include TechSaver.com, which the company states reaches more than 7 million users each month, PCMag.com, Smart Device Central, ExtremeTech, CrankyGeeks, GearLog, AppScout, GoodCleanTech, and DL.tv. Shah has an imposing background in media. He helped to create CNNMoney.com, was an overseer for both Time.com and SI.com, and was also the president of both Money and Fortune magazines.

A press release indicated that Shah is quite interested in Ziff Davis Labs. This is a computer testing lab that is similar to Consumer Reports magazine in that it create reviews of gadgets. Shah feels that there is a huge opportunity in producing content that helps users decide what to buy. He also revealed that he intends to take the Ziff Davis editorial content in the direction of conveying it to tablet devices, feeling that this step is also a huge prospect. Shah stated that the transaction was for less than $150 million.

Regrettably, because of the fading magazine and print business, Ziff Davis Media has moved more towards a digital model, and surrendered to layoffs. The acquisition of the company by someone who is a experienced digital executive may well help the company do a turnaround.