Hearst Business Media acquires 50% of Aspen Labs

Uniondale, N.Y.—Hearst Business Media's electronics group has acquired 50% of Aspen Labs, a business media company that operates the social media platform EEWeb. Financial terms of the deal were not disclosed.

EEWeb is a peer-to-peer community for engineers. Aspen Labs also offers a Web-based, schematic design tool for engineers.

“Our investment in Aspen Labs is right in line with our strategy to support our customers' efforts with innovative, best-in-class information and software services that bring together buyers and sellers,” said Richard P. Malloch, president of Hearst Business Media, in a statement.

Originally posted on: 4/20/12