Axel Springer Acquires Bisnow
German media giant Axel Springer has acquired Bisnow, a leading B2B media and events company focused on the commercial real estate industry. The deal, backed by private equity firm The Wicks Group, marks a significant consolidation in the business media landscape.
This acquisition is part of Axel Springer's broader strategy to expand its portfolio of U.S. media companies. The German firm has invested heavily in American digital journalism, including acquiring Business Insider in a deal that valued the company at $442 million and purchasing Politico for over $1 billion. Axel Springer has also shown a specific interest in B2B and paid content models. The company previously acquired eMarketer, a digital marketing research company, for approximately $242 million and later combined it with its Insider Inc. properties to strengthen its business-to-business offerings. The seller, The Wicks Group, is a private equity firm that focuses on the information, education, and media industries. It acquired Bisnow in May 2016 for an estimated $50 million. At that time, Bisnow had a subscriber base of over 600,000. Since the 2016 sale, Bisnow has continued to grow, with current estimated annual revenues of $54.3 million and around 310 employees. The company specializes in producing digital news and hosting more than 340 events a year for the commercial real estate industry.
