Uzabase, Inc. (“Uzabase”, Headquarters: Tokyo, Co-Chief Executive Officer: Yusuke Inagaki, Yusuke Umeda, TSE Mothers: 3966) hereby announces that it has agreed to acquire the ownership interest of NewsPicks USA, LLC (“NewsPicks USA”, Headquarters: New York, CEO: Ian Myers) from Dow Jones & Company, Inc. (“Dow Jones”).
By this ownership interest acquisition, NewsPicks USA will become a wholly-owned subsidiary of Uzabase group through NewsPicks Inc. and Quartz Media Inc. (“Quartz”), both 100% owned subsidiaries of Uzabase. The transaction is scheduled to close on October 08, 2018.
Uzabase’s mission is “Business Intelligence to Change Your World.” For the purpose of launching a NewsPicks USA product, we in March 2017 established NewsPicks USA, the joint venture with Dow Jones.
Uzabase completed the acquisition of Quartz, a global business news organization headquartered in New York, in July 2018. We believe the full integration of the two companies, NewsPicks USA and Quartz, will be the most effective approach to further accelerate the growth of our media business in the United States. We have come to an agreement with Dow Jones to make NewsPicks USA a wholly owned subsidiary.
This full integration will allow us to combine the approximately 20 million monthly readers of Quartz with NewsPicks USA’s platform and community management. Bringing those together lays the foundation for a successful business model with three key elements: (1) platforms, (2) media, and (3) communities.
For the outline of this full integration strategy, please see the release document dated July 2, 2018.
Acquisition of US Based Quartz Media for the Global Expansion of NewsPicks Business (Presentation Slideshow)
We plan to announce the more detailed post-integration growth strategy for NewsPicks USA and Quartz later this year.
Dow Jones and the Uzabase Group have agreed to continue with all of their other business alliances following the dissolution of the joint venture agreement—including the licensing of content from Dow Jones for the NewsPicks USA edition and Japan edition and the Factiva and SPEEDA business alliances—and expect this transaction to have no other impact on our businesses.
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