LONDON (BRAIN) — Immediate Media Co., the owner of BikeRadar.com, Cycling Plus magazine and about 75 other consumer media titles, has been acquired by Hubert Burda Media, a Munich, Germany-based technology and media company.
BikeRadar was acquired by Immediate from Future Publishing in 2014. Immediate had been owned by private equity investor Exponent and Management.
Financial details of the transaction were not released.
Hubert Burda Media owns about 540 brands worldwide and is one of Germany's largest technology and media companies.
Paul-Bernhard Kallen, the CEO of Hubert Burda Media, said, "Immediate Media is a great platform for print as well as digital consumer businesses in the U.K. The successful management team brings strength and depth across publishing, technology and e-commerce and has built a growing, profitable company with a large and loyal customer base. We believe Burda and Immediate Media match perfectly — with regards to the business segments as well as to the entrepreneurial mindset of both companies."
