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BtoB

1105 Media acquires 101communications

Published on .

Chatsworth, Calif.—It’s official. 101communications, a b-to-b media company that focuses on the IT market, has been acquired by 1105 Media, which is backed by private equity firms Nautic Partners and Alta Communications in partnership with Neal Vitale, a former Reed Elsevier and Petersen Publishing executive.Terms of the transaction were not disclosed, but people familiar with the sale pegged the price at $75 million. Jeffrey Klein, president-CEO of 101communicaitons, will assume a strategic, nonoperational role as nonexecutive chairman of the company. Vitale, previously president-COO of Petersen Cos. and a group VP at Reed Elsevier, will serve as president-CEO of 1105 Media. Last year, 101communications' revenue grew 10%, while earnings before interest, taxes, depreciation and amortization (EBITDA) increased more than 40%. Media investment bank Jordan, Edmiston Group handled the transaction. 

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