Updated: The deal has been announced officially. Also, Ken Fisher, the founder of ArsTechnica, explains the rationale of the deal in a rather eloquent post here: “We’re going to get broader, but also more in-depth, in areas of IT and science. We are going to be opening offices in San Francisco and Chicago in a matter of weeks, and we are rearranging our editorial team slightly..”
Original post: CondeNast, the parent of Wired and Portfolio, has made an interesting acquisition, a rumor we had been following for a month: it has bought the veteran tech news site ArsTechnica, for around $25 million. The news was first reported by TechCrunch, and we have corroborated from sources as well. The site will be part of Wired Digital. The price is around the same as Wired magazine paid for buying Wired.com back from Lycos-Daum in 2006. Since then, the digital arm of Wired and parent Conde has been making steady stream of small acquisitions, including social news site Reddit, NutritionData, travel blog producer SFO Media, and more to come.
ArsTechnica, based in Boston, was founded in 1998 by Ken Fisher, and the rather esoteric name is a Latin phrase, meaning the