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Japanese-based media company Uzabase agreed to acquire Quartz, the business news website created and owned by Atlantic Media, to grow its global reach.
Depending on Quartz’s performance in 2018, the deal will value the news organization, headquartered in New York City, between $75 and $110 million. The deal is expected to close within 30 days, according to a joint announcement from the companies.
Under the arrangement, Quartz will oversee the English-language version of Uzabase’s NewsPicks, its subscription news outlet.
NewsPicks founder and CEO Yusuke Umeda said in a statement that when he first heard of Quartz five years ago, it played a “big role” in inspiring him to launch NewsPicks due to their combination of “quality journalism with mobile technology,” adding that he’s “very excited to enter the next chapter of NewsPicks’s growth with a company and team that I respect so much.”
NewsPicks
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