Uzabase Reaches Agreement To Acquire The Global Business News Outlet Quartz

Jul 05, 2018

Uzabase, the business intelligence and media company, announced that it has signed an agreement to acquire Quartz, the global business news outlet created and owned by Atlantic Media. The anticipated deal values Quartz between $75 and $110 million depending on achievement of future financial and operating performance in 2018.

As part of the acquisition, which is expected to close within the next 30 days, Quartz will assume responsibility for the English-language version of NewsPicks on behalf of Uzabase. NewsPicks is a subscription business news platform and one of Uzabase’s two core businesses.  The other is SPEEDA, a financial business-intelligence service.

By bringing together the Quartz and NewsPicks businesses, Uzabase, which is listed on the Tokyo Stock Exchange, will be able to create a larger, more robust global business news brand that combines Quartz’s voice, editorial, advertising, product expertise, and international reach with Uzabase’s deep expertise in data and niche paid content. This partnership accelerates NewsPicks’ expansion into English-language markets in the US and Europe. Quartz, which this year is on track to grow revenue by 25% - 35% over last year, will continue to offer its industry-defining products and will pursue its subscription content ambition with greater speed and resources.

Discussion of a potential partnership began last fall when Uzabase leadership contacted Quartz to explore ways the two companies might collaborate. The realization of shared and complementing corporate values and ambitions eventually led to talks of a merger.