Axel Springer, a European publishing house, announced today that they have acquired Business Insider for $442 million.
The New York based Business Insider has 76 million unique monthly visitors– this shall add to Axel Springer’s reach by over 200 million users.
Axel Springer already has a stake of 9% in Business Insider and with the latest acquisition of 88%; Axel will now own 97% of Business Insider. The acquisition also puts Axel in the list of ‘six largest publishing houses’ in the world.
“With the acquisition of Business Insider, we continue with our strategy to expand Axel Springer’s digital reach and, as previously announced, invest in digital journalism companies in English-speaking regions of the world. Business Insider has set new standards in digital business journalism globally,” said Mathias Döpfner, CEO of Axel Springer.