The Financial Times has acquired a majority stake in the Dutch digital media and events company The Next Web for an undisclosed sum.
The Next Web reports on the tech sector, keeps a database of tech start-up investments and has run the annual TNW conference in Amsterdam since it was founded in 2006.
The FT said it bought a controlling stake in the company to extend its reach in the European tech scene and create “synergies” between its existing events team FT Live and TNW.
FT Live global publisher Angela Mackay said: “TNW is an established and profitable business that produces one of the largest and most critically acclaimed tech startup events in Europe.
“There are clear synergies between TNW and FT Live, in sharing audiences and delivering the FT’s world class journalism on live stages in Europe. We look forward to delivering first class programs with our new partners.”
TNW founder Boris Veldhuijzen van Zanten (pictured, centre) said: “It is a huge honour to work together with a company with such a rich history, which is so well respected and well known around the world.
“FT has a global vision for the future, a future where business and technology audiences are converging and form the thriving force of our society.
“We look forward to working together in this digital-first age and combining our expertise, networks and influence.”
TNW would not comment on how much the FT had paid or divulge the size of the stake, but said it would continue to operate independently of the newspaper.
TNW is headquartered in Amsterdam and has 86 employees working in several different countries.
The FT will programme an event at the 2019 TNW conference in May, which will be attended by speakers from firms such as Google, Microsoft and Reddit.
Also at the conference, the FT will co-host The Assembly for tech figures and lawmakers to discuss the future of technology.
Picture: Financial Times