“We are currently exploring our options,” Ascend CEO Vicki Masseria confirmed.
Ascend’s products include Clinical Lab Products, Hearing Review and Orthodontic Products.
Ownership of the publisher, which had been controlled jointly by management and private equity funds operated by CCMP and Veronis Suhler Stevenson, has reverted to its lenders, led by Wells Fargo, according to the sources.
Communications industry investment bank Berkery & Noyes is said to be handling the sales process. TechWeb cuts jobs, shifts executives San Francisco—TechWeb, a unit of United Business Media that publishes InformationWeek, announced "a resructuring and reorganization."
The moves include a round of job cuts. TechWeb declined to say how many positions are being eliminated.
The restructuring also includes shifting responsibilities in the executive ranks of TechWeb. David Berlind was promoted to chief content officer of TechWeb and editor in chief of Techweb.com. Fritz Nelson has been named executive editor of the InformationWeek Business Technology Network (IWBTN) and producer of TechWeb TV.
John Ecke has been named VP-group publisher and will lead new online vertical market launches and TechWeb's existing financial technology brands, InformationWeek Government IT, InformationWeek Health Care IT and Global CIO, in addition to his duties leading the Financial Technology Network. Brandon Friesen has been named VP-group publisher of InformationWeek, Network Computing, bMighty and Dr. Dobbs. Martha Schwartz has been named VP-IWBTN group sales.