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Leading tech media gets acquired

Webrazzi, the main tech startup media in Turkey, has acquired Tech.eu, the long-time tech startup site in Europe. The pooled entity of Webrazzi and Tech.eu will now offer combined editorial, data and research platforms offering news and market intelligence. The terms of the deal were not disclosed.

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Launched in 2006 by Arda Kutsal, Webrazzi reaches 1.25 million readers a month (15 million a year) and will now expand its European and English language reach with the Tech.eu acquisition.

Tech.eu was launched in 2013 by former TechCrunch writer Robin Wauters and has since become one of several destinations for European tech startup and innovation news. It has, however, faced increasing competition from a number of other European-oriented outlets such as EU Startups, Silicon Canals and the Financial Times-backed Sifted.eu. (TechCrunch’s European bureau started its coverage in 2006).

Wauters explained that part of the motivation for the sale came from a desire to have its own tech stack, custom CMS, bespoke software for managing native advertising campaigns and an events platform, which Webrazzi has.

Arda Kutsal, founder and CEO of Webrazzi, said: We are excited to expand further into Europe by acquiring Tech.eu, which we have considered the best source of technology news and market data for many years. We are impressed with the team’s accomplishments to date, as well as its solid plans for the future, and can’t wait to work together with them to turn those into reality.

Robin Wauters of Tech.eu said : I have long admired what Arda and his team have built, and I’m excited to bring the knowledge and experience we’ve gained from building Tech.eu as a team to the Webrazzi family and see how far and wide we can take our combined editorial platforms next. The European technology ecosystems are evolving at an incredible pace, and we can’t wait to continue covering and analysing their future ins and outs under the Webrazzi umbrella. I fully expect it to be more hard work and good fun!

Source:TechCrunch

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