American City Business Journals has acquired majority
ownership of BizEquity, a provider of cloud-based business valuation tools and
private business data.
As part of
the transaction, ACBJ will make a significant capital investment in BizEquity
to accelerate its growth, according to a ACBJ news release.
BizEquity's
patented software-as-a-service platform helps business owners value their
businesses in real time, the release says. More than 625 financial institutions
and 2,500 wealth advisors use BizEquity, headquartered in Philadelphia , to prospect for clients and
engage with business owners to help them understand critical business valuation
information, the release says.
“Our
business journals are trusted sources of information in 43 U.S.
cities," said Whitney Shaw, ACBJ CEO. "Historically, our primary
service has been providing breaking local business news to people in those
markets. We remain committed to that important service. Through
BizEquity, we can enhance our core offering by giving additional, valuable
information and insights to businesses of all sizes and to the professionals
who serve them.”
Terms of
the agreement were not disclosed.
ACBJ owns
40 business publications online and in print across the country. ACBJ is
headquartered in Charlotte ,
North Carolina , and is part of
Advance, a private, family-owned business.
News and Tech
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