ACBJ buys majority stake in biz data provider

American City Business Journals, which operates business weeklies in 43 markets across the country, has acquired majority ownership of BizEquity, the leading provider of cloud-based business valuation tools and private business data, for an undisclosed amount.

Mark Mensheha of ACBJ writes, “As part of the transaction, ACBJ, the nation’s largest publisher of local business information, will make a significant capital investment in BizEquity to accelerate its growth.

“BizEquity’s patented software-as-a-service platform helps business owners value their businesses in real time. More than 625 financial institutions and 2,500 wealth advisers use BizEquity to prospect for clients and engage with business owners to help them understand critical business valuation information.

“‘Our business journals are trusted sources of information in 43 U.S. cities,’ said ACBJ CEO Whitney Shaw. ‘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 to businesses of all sizes and to the professionals who serve them. We’re excited BizEquity has joined the ACBJ family and look forward to growing the business together.'”

Read more here.