Abacus e-Media, a vendor whose content management system powers some publisher websites, has been bought out by its own management.
The buyout is financed with funding from management themselves plus private investors who are Centaur founder Gragam Sherren, former Haymarket chairman Martin Durham and ex Wilmington COO Nick Miller.
They say they plan to “acquire an established customer data and fulfilment business within the next three months”.
Right now, Abacus says its Webvision CMS is used at Emap, Centaur, UBM and Macmillan; it also counts some local authorities as clients. It now wants to take a “audience development” tool, ADvance, to publishers, supposedly allowing them to unite their print and online subscription, registration and events systems.
Ian Eckert stays aboard in Abacs to run this business. Steve Feigen stays on as company MD.