LabX Media Group has acquired Drug Discovery News (DDNews), a highly respected media organization dedicated to the news of technology and business in the pharmaceutical and biotechnology industries.
Old River Publications/DDN News was represented by Connectiv member Grimes, McGovern & Associates in this transaction.
This marks a significant acquisition for LabX Media Group, which has considerably strengthened its leadership position in the scientific community by investing in strategic acquisitions while enjoying rapid growth with its existing brands. The acquisition of DDNews fits within LabX Media Group’s strategic business plan set in 2015 of organic and acquisition growth to becoming the leading media organization serving the science marketplace with high quality timely and trusted editorial content.
Since its launch in 2004 as a news magazine, the founders of DDNews – Bruce Poorman and Larry Doyle – have evolved the brand into a multi-platform media organization dedicated to covering the news in discovery, development, diagnostics, clinical trials, cancer research and much more.
“We’re excited to match up DDNews and its breadth of content, marketing and sales solutions with LabX Media Group’s leading brands to create best-of-class products and services that build high value for scientist and laboratory professionals and their partners,” said Bob Kafato, President of LabX Media Group.
“I am particularly pleased to be working with the extremely talented team of DDNews, who under the leadership of Mario Di Ubaldi, will lead our efforts in serving the pharma and biotechnology community. The acquisition marks LabX Media Group’s continued investment in high-performing and premier properties with engaged audiences and best-in-class products and services. The DDNews portfolio of products adds to LabX Media Group’s product portfolio, adding a robust emedia component to its fold, and expands our reach on a global basis.”
The acquisition of DDNews enables LabX Media Group to service the various science communities with our highly engaged brands and creates an exciting opportunity for our employees and customers.