NYSE Euronext Buys Corporate Board Member
Deal includes magazine and Web site as well as research, conference, education.
International financial equities exchange group NYSE Euronext—the holding company that includes the New York Stock Exchange—has acquired Corporate Board Member magazine from Board Member Inc. In addition to the quarterly publication, the deal also includes Boardmember.com, the Director’s Database and the company’s interactive research, conference and educational services.
Terms of the deal were not disclosed.
The new subsidiary within NYSE Euronext will be headed by current Board Member Inc. CEO T.K. Kerstetter, who will serve as president.
NYSE Euronext says the acquisition advances its goal of expanding its board education capabilities to public companies around the world. "We look forward to not only enhancing our education capabilities to our network of NYSE Euronext companies, but to any public or private board that is striving to improve its governance and effectiveness," NYSE Euronext CEO Duncan Niederauer says in a statement announcing the acquisition.
Corporate Board Member and NYSE Euronext have collaborated on several initiatives over the last few years, including the Annual Boardroom Summit conference and the Board Committee Peer Exchanges and a weekly on-demand Web program called "This Week in the Boardroom."
Bank Director magazine, which also is published by Board Member Inc., was not included in the sale.