Tungsten Publishing is a newly created company that brings together The TRADE and Global Custodian into a contemporary B2B media outlet.
Strategic Insight, the data and business intelligence provider for the global asset management community, today announced that it has agreed terms with the current management team of The TRADE and Global Custodian for a management buyout of those media businesses. As part of the transaction both companies will be sold to a new media company called Tungsten Publishing Ltd.
The management team, led by Managing Editor Jonathan Watkins, Head of Sales Daljit Sokhi and their colleagues Richard Schwartz and Amit Dass, have a long association with these brands and have created a vibrant offering for both the Securities Services Industry and the Buy-Side community.
Commenting on the transaction, Strategic Insight CEO Joel Mandelbaum said, “We look forward to working with Jonathan and his team as they continue to develop innovative solutions in this fast-changing media environment and we wish them well for the future.”
Jonathan Watkins, CEO designate of Tungsten Publishing, said, “We are thrilled to have been given this opportunity to acquire these businesses and appreciate all the support from the Strategic Insight team. We look forward to developing our client offering and supporting these communities in promoting their businesses and facilitating engagement and best practice.”
The deal is expected to close in January. Financial terms were not disclosed.