Access Intelligence Acquires Red 7 Media
With the deal, AI creates a new division combining the Folio: and min brands.
Rockville, MDâ€”B-to-b media company Access Intelligence announced today the acquisition of Red 7 Media, owner of Folio: Magazine and several other leading media brands. With the acquisition, AI strengthens its position in the media communications markets and will create a new division combining the Folio: and min brands.
The new unit, AIâ€™s media and event marketing group, will be led by Red 7 Media CEO Kerry Smith and his senior management team. Smith will continue in his role as president of the expanded Red 7 Media group and become a senior vice president of Access Intelligence.
â€śThe ability to round out our leading position in the consumer magazine market with Red 7â€™s events, online communities and a leading magazine while expanding into the dynamic events business is a truly exciting prospect for Access Intelligence, our employees and customers,â€ť said Don Pazour, president and CEO of Access Intelligence.
Smith founded Red 7 Media in 2002 and grew the Norwalk, CT-based company into a market leader, attracting more than 7,000 executives and 500 sponsors to its events and more than 800,000 unique visitors to its Web sites.Â Other Red 7 brands include Event Marketer, Event Design, Audience Development, Expo and Best Events.
The Red 7 Media group will serve the media and events industries through conferences, consulting, magazines, newsletters and online communities. Together with AIâ€™s positions in cable television programming, public relations, and digital graphics, this transaction, representing about a third of the company's revenue, makes Access Intelligence a major voice in media communications.
The acquisition marks Access Intelligenceâ€™s continued investment in high-performing properties with engaged audiences and best-in-class products and services.
Smith noted that he has an existing relationship with Pazour through SISOâ€”the Society of Independent Show Organizersâ€”and through Veronis Suhler Stevenson, the media-industry private-equity firm that has investments in both companies. â€śDonâ€™s team and ours share a vision for creating high-value business resources around market-leading brands. Integrating Red 7 Media into Access Intelligence will provide Red 7 with deep resources and capabilities that will enable us to accelerate our growth strategies and better serve our customers and employees,â€ť he said. â€śI couldnâ€™t think of a leader or company that would be a better fit for our brands, our vision, and our employees.â€ť