ALM Buys Kennedy Consulting, Branches Out From Legal Market
First piece of larger acquisition strategy.
ALM, formerly known as American Lawyer Media, is the largest B2B publisher in the legal market, but it's branching out with its latest acquisition.
The company announced the purchase of Kennedy Consulting Research & Advisory, a media and information services provider for the management and IT consulting industries, this week from Kennedy Information LLC.
Terms weren't disclosed.
The deal brings a magazine, consulting services operation and several market-specific data and news products to ALM. The portfolio, along with its existing leadership, will be brought under ALM's Intelligence unit.
See also: What's Next for ALM?
"ALM is looking at adjacent markets to legal that have many of the same characteristics," ALM's chief marketing officer, Lenny Izzo, tells FOLIO:. "Kennedy was a great place to start because it serves a professional community similar to ALM's. The breadth of solutions Kennedy provides aligns nicely with ALM¹s business."
He adds: "The acquisition is part of a broader strategy to leverage our technology and infrastructure platforms to deliver trusted reporting and insights to more companies and industry leaders."
The purchase comes six months after ALM was bought by Wasserstein & Co. for a reported $417 million.