Axel Springer acquires Business Insider for $442 Million
German publisher Axel Springer acquires Business Insider in a whopping $442 million deal, accelerating its push into English-language content.
Axel Springer is a Berlin-based publisher best known as the owner of newspapers Die Welt and Bild, already owned 9 percent of the company, and Amazon CEO Jeff Bezos, who had previously put his own money into the company, will leave it in there. When factoring out the cash still on the books, the value comes down to $390 million. Springer will end up writing a check for $343 million when the deal closes; it says Business Insider has 76 million readers and 325 employees worldwide. (more…)