ANN ARBOR, MI (PRWEB) October 6, 2005
Ardesta, LLC, a leader in the creation of and investment in "Small Technology" companies, announced today the acquisition of Small Times Media, LLC by PennWell Corporation, an international publisher of business and trade magazines. Financial terms of the sale were not disclosed. Ardesta founded Small Times in 2001 as a media company serving the fast-emerging world of Small Tech -- nanotechnology, MEMS and microsystems -- through its Small Times magazine, its industry leading website http://www.smalltimes.com, and the annual NanoCommerce trade conference and exhibition.
In its four and one-half years of existence, Small Times has become the leading voice in the Small Tech world, bringing news and opinion on the business, financial and societal impact of Small Tech research and products.
"When we started Small Times, the terms 'nanotechnology,' 'MEMS' and 'microsystems' were not well known outside of scientific circles," said Rick Snyder, CEO of Ardesta. "Our goal was to create a trusted, industry leading source of information that would help introduce the power of Small Tech to the business community and the general public. As an independent publisher, Small Times has met that challenge and has been of immense importance to advancement of Small Tech. The acquisition by PennWell now provides Small Times with the additional resources of a large, well respected media organization that will help it grow even more quickly, both domestically and internationally."
Small Times will remain in Ann Arbor, Michigan but will become part of PennWell's Advanced Technology Division based in Nashua, New Hampshire. Patti Glaza, CEO of Small Times, will join PennWell as Vice President and Group Publisher. "Ardesta’s vision and commitment created the possibility for Small Times and helped us achieve the industry-leading position we are in today. Now with our acquisition by PennWell we believe that we are poised for even quicker growth that will help further advance the visibility of both Small Times and Small Tech throughout the world."
Through its creation of and investment in some of the leading companies in the emerging fields of MEMS, microsystems and nanotechnology, Ardesta has established a leadership position in Small Tech. Ardesta has created a broad network of leading researchers, entrepreneurs and industrial customers that enable it to serve as an important bridge between Small Tech research institutions and the macro world and to bring Small Tech products to the global marketplace. http://www.ardesta.com
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