M&A Deal Summary

North Equity Acquires Drive

On December 18, 2018, venture capital firm North Equity acquired digital media company Drive from Meredith

Acquisition Highlights
  • This is North Equity’s 1st transaction in the Digital Media sector.
  • This is North Equity’s 1st transaction in the United States.
  • This is North Equity’s 1st transaction in New York.

M&A Deal Summary
Date 2018-12-18
Target Drive
Sector Digital Media
Buyer(s) North Equity
Sellers(s) Meredith
Deal Type Divestiture

Target

Drive

New York, New York, United States
The Drive publishes a wide range of automotive and transportation content including breaking news stories, reviews, incisive op-eds, and investigative features. The Drive was founded in 2015 and is based in New York.

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Buyer(S) 1

Buyer

North Equity

Category Venture Capital Firm
Founded 2018
Size Small
Type Sector Agnostic
DESCRIPTION

North Equity is a venture equity firm focused on acquiring and investing in companies from the technology, data, and digital media industry. North Equity was formed in 2018 and is headquartered in Miami, Florida.

DEAL STATS #
Overall 1 of 1
Sector (Digital Media) 1 of 1
Type (Divestiture) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1

Seller(S) 1

SELLER

Meredith

Des Moines, Iowa, United States
Category Company
Founded 1902
Sector Media
Employees5,290
Revenue 2.8B USD (2020)
DESCRIPTION
Meredith's corporate headquarters in downtown Des Moines, Iowa.
Meredith's corporate headquarters in downtown Des Moines, Iowa.

Meredith is a media and marketing company spanning broadcast television, print, and digital. Meredith is a leader in creating content across media platforms in key consumer interest areas such as food, home, parenthood and health through well-known brands such as Better Homes and Gardens, Parents and Allrecipes. Meredith was formed in 1902 and is based in Des Moines, Iowa.

DEAL STATS #
Overall 6 of 10
Sector (Digital Media) 1 of 3
Type (Divestiture) 5 of 9
State (New York) 3 of 3
Country (United States) 5 of 9
Year (2018) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-09 Meredith - FORTUNE Media Brand

Des Moines, Iowa, United States

Meredith Corp. - FORTUNE Media Brand is a provider of media services in the United States.

Sell $150M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-27 Meredith - Sports Illustrated

Des Moines, Iowa, United States

Meredith Corp. - Sports Illustrated is a cultural centerpiece with massive opportunities for growth across its burgeoning digital, TV and social platforms and industry-leading print magazine. Sports Illustrated’s trusted name and fiercely devoted following set the stage for the brand to become a leader in lifestyle and entertainment.

Sell $110M
Mergr

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