GE finances acquisition of Ziff Davis' Enterprise Group by Enterprise Media Group

GE Commercial Finance's Media, Communications and Entertainment business today announced that it closed a transaction as administrative agent for a $137 million credit facility to support the acquisition of Ziff Davis Media's Enterprise Group by Enterprise Media Group, a new portfolio company of Insight Venture Partners.

In conjunction with the acquisition, Developer Shed LLC, an existing portfolio company of Insight Venture Partners, was combined with Enterprise Media Group. GE Capital Markets served as sole lead arranger for the financing.

Enterprise Media Group (EMG) produces online content, provides lead generation services and organizes events serving the technology industry. Some of its branded assets include eWEEK magazine, eweek.com, CIO magazine, Baseline magazine, baselinemag.com, Microsoft-watch.com, channelinsider.com, and a database of 3.5 million business and technology users.

"This acquisition, combined with Developer Shed, creates an enterprise IT industry leader with exceptional product depth," said Larry Handen, managing director of Insight Venture Partners. "It is critical for us to work with financiers like GE - Media, Communications and Entertainment that have extensive knowledge within B2B media and recognize EMG's success online."

Headquartered in New York and founded in 1995, Insight Venture Partners invests in, and partners with expansion stage and mid-market companies to create long-term value for all stakeholders. The company has raised more than $2 billion in capital to invest in software, technology and internet services companies.

"The B2B media industry is transitioning from print to online," said Peter Foley, senior managing director and origination leader, GE Media, Communications and Entertainment. "Enterprise Media Group offers an attractive portfolio of online properties to clients within the Enterprise IT industry and we are proud to be a part of the transaction."