TechMedia Network (TMN) is buying BuyerZone, a lead-generation firm that caters to product buyers and retailers for small and medium-sized businesses (SMBs). TMN is the parent firm of Laptop magazine, Tom's Hardware, and Space.com, according to VentureBeat.
With the addition of BuyerZone, TMN will be gaining access to an e-commerce market. Aside from advertising, the tech media firm can also make money from the lead generation business, the report said.
BuyerZone has been established in the industry since 1992. A company spokesperson said the business has facilitated tens of billions of dollars worth of transactions. The firm presently has one million buyers and 8,500 retailers in its community, the report detailed.
The terms of the BuyerZone purchase were not disclosed. This is TMN's second big acquisition in six months. In July 2013, the latter bought the parent firm of Tom's Hardware, said the report.
In 2011, TMN raised $33 million in Series B funding from Village Ventures, ABS Capital Partners, and Highway 12 Ventures. The tech media firm is currently based in New York, VentureBeat reported.
Join the Conversation