Condé Nast parent company jumps into big data market with 1010data purchase
Advance, a global media group that owns the Condé Nast group of consumer publications, has ventured into the realm of data analysis, purchasing New York-based analytics firm 1010data for $500 million.Advance plans to infuse 1010data with capital to expand its operations, so it can take on more of the growing market for big data-styled analysis services.Sandy Steier, 1010data co-founder and CEO, in a statement issued Monday that there will be no disruption to its customers, employees nor to its business as a result of the acquisition, which will instead allow 1010data to grow more quickly.The purchase is a bit of an unusual one for Advance, which has filled its portfolio with traditional media properties.To read this article in full or to leave a comment, please click here
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