Zinio Acquired by Investment Firm
Digital magazine publisher Zinio Systems Inc. was acquired today by Gilvest LP, an investment firm owned by David H. Gilmour and managed by Doug Carlson. The terms of the deal were not disclosed. Gilmour also owns VIV Publishing LLC, publisher of VIV Magazine.
In a statement, Gilvest says it plans to provide new capital to help fund technology advancements to support Zinio’s continued growth. Zinio’s current management team, led by president Richard Maggiotto, will remain in place, the statement said. Zinio sells, produces and distributes more than 1,200 digital magazine titles and textbooks from more than 240 publishers, including Hachette Filipacchi, Hearst, Primedia, IDG and McGraw-Hill.