PennWell Acquires Broadband Technology Report
TULSA, Okla., Jan. 3, 2012 /PRNewswire/ -- PennWell Corporation, a diversified global media and information company, announced today that it has acquired the Broadband Technology Report (BTR) and related assets from Virginia-based Hermes Media & Research LLC, including the Diamond Technology Reviews, the leading technology awards program for the broadband industry. Financial terms of the acquisition were not disclosed.
Launched in 2004 by Timothy Hermes, the online Broadband Technology Report is published weekly and also includes Tech Alerts, Video Alerts, custom video products, event publications, and thought leadership videos. The Diamond Technology Reviews are a fully-independent technology and product review program serving the broadband industry. Hermes will continue as a consultant to the business with expanded responsibilities for strategy, business development and program execution. The BTR staff will join PennWell, including broadband publishing veteran Rob Stuehrk, who will serve as publisher.
The acquisition of BTR and the Diamond Technology Reviews represents a new vertical business for PennWell that addresses the well-capitalized and growing broadband industry. BTR's audiences comprise vice president-level engineers, staff engineers, technicians and managers at Multiple System Operators (MSO), Independent Operators (ISO), and IP/telecom companies. BTR is known for its weekly e-newsletter distributed to over 21,000 professionals and its website, www.btreport.net, is updated daily with original features, product announcements, news, blogs, and videos focusing on technical challenges and solutions.
PennWell President and CEO Robert F. Biolchini said, "The acquisition of BTR and its family of products immediately establishes PennWell as a leader in the rapidly growing broadband technology industry. We look forward to providing a larger platform and an array of digital media resources and expertise to accelerate the growth of this exceptional business, and we welcome Tim Hermes and his team to PennWell."
PennWell will manage BTR from its Technology Group offices in Nashua, New Hampshire under the direction of Senior Vice President Christine Shaw and Group Publisher Ernesto Burden, who is also responsible for PennWell's Lightwave Magazine. BTR complements Lightwave's focus on fiber optics and optoelectronics, the technologies driving growth, convergence, and improved performance of voice, video, and data communications. PennWell also publishes Cabling Installation & Maintenance, which serves designers, installers and owners of premises and campus communication systems challenged by changing standards, products and technologies.
According to BTR Founder Timothy Hermes, "We sought the opportunity to work with a strong parent company with substantial assets in personnel and capital to take our successful portfolio to the next level. Working with PennWell felt perfect for us."
About PennWell Corporation
Founded in 1910, PennWell Corporation is a privately held and highly diversified business-to-business media and information company that provides quality content and integrated marketing solutions for the following industries: Oil and gas, electric power generation and delivery, hydropower, renewable energy, solar/photovoltaic, water and wastewater treatment, waste management, electronics, semiconductor manufacturing, optoelectronics, fiber-optics, aerospace and avionics, LEDs and lighting, fire, and dental. PennWell publishes over 130 print and online magazines and newsletters, conducts 60 conferences and exhibitions on six continents, and has an extensive offering of books, maps, websites, research and database services. In addition to PennWell's headquarters in Tulsa, Oklahoma, the Company has major offices in Nashua, New Hampshire; London, England; Houston, Texas; Mountain View, California; Fairlawn, New Jersey; Moscow, Russia; and Hong Kong, China.
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SOURCE PennWell Corporation