14 DAY TRIAL // There have been a number of voices starting to declare the tech business old news. Even accounting for the economic downturn, it looks like the sector has seen its hay day and won't be returning to the big growth it has enjoyed in past decades and even in recent years. Another sign may be the departure of Alan Meckler, a pioneer in the online tech trade business, as he is now selling off the Internet.com division to QuinStreet, a media and marketing company, for a reported $18 million.
The division, part of the larger WebMediaBrands, a company he owns, manages several online properties like Internet.com, InternetNews.com, DevX, Linux Today and a number of other sites. The deal isn't finalized yet, still waiting for the shareholder vote, but Meckler along with other investors owning around 40 percent of the stocks have already expressed their approval.
Internet.com was one of the three main online components of the company, which is now left with Mediabistro.com and Graphics.com as the big names. Another side of the business, which will see increased focus, is the educational sites, with Meckler planning to do several acquisitions in this sector. Another focus will continue to be the number of trade shows, which have always been an important part of the company.
The sale of Internet.com follows a bigger one last year when WebMediaBrands, then still known as Jupitermedia, sold its online image business, Jupiter Images, to Getty for $96 million. Internet.com is slated to bring in around $14 million in revenue this year but Meckler is satisfied with the $18 million he got and says he will use the money to make several acquisitions. He also believes that MediaBistro will see an increased growth while also hoping to further build up Graphics.com, the company's design platform.