Purch Makes Third Acquisition In Two Years with AnandTech
Brand and staff will remain intact.
Purch announced on Dec. 17 that it's acquired AnandTech, publisher of computing and IT analysis and reviews. That marks its second acquisition this year, and the third in two years for the company, which rebranded from TechMedia Network back in April.
Terms of the deal will not be disclosed a spokesperson tells FOLIO:.
The deal gives Purch an even greater foothold in the content-to-commerce tech space. Its portfolio already includes LAPTOP, Tom's Hardware and Top Ten Reviews, amongst others. According to comScore, AndTech reaches over 1.3 million unique monthly visitors-less than 1 percent of Purch's aggregate–brand reach, which is reportedly over 100 million each month.
Anand Shimpi founded AnandTech in 1997 at the age of 14. Shimpi stepped down as editor-in-chief in August to join Apple. In a release he says, "AnandTech represents much of my life's work over the past 18 years. I am happy to see it end up with a partner committed to taking good care of the brand and its readers. I wouldn't have had it any other way."
Purch will retain the company's staff, including Ryan Smith, who replaced Shimpi as editor-in-chief. Smith indicates that the acquisition will enable AnandTech to scale the brand further.
"AnandTech has grown by leaps and bounds over the past several years, but we were nearing what's possible as an independent company," Smith says in a statement. "The challenge has always been that there are very few players in the publishing space these days who value deep, high-quality content. We wanted a partner that understood our values, had a sound business model to ensure AnandTech's legacy would continue for years to come, and would allow us to grow and expand our readership without compromising the quality that made us who were are today. Purch provides all of these things."