Austin Ventures, the PE firm, has acquired B2B online/print financial information provider Asset International, a Stamford, CT, which focuses on pension funds, asset managers, and other financial institutions. AV has also invested an undisclosed amount of capital into the company. Jim Casella, the former CEO of Reed Business U.S., who was working with Austin as an entrepreneur in residence of sorts, has taken over at the CEO of the decade old company. Asset International has brands such as Plamsponsor magazine aimed at investment professionals, Daily NewsDash and AdvisorDash newsletters, among others. Casella has been working with Austin Ventures for more than a year now, and had been working with one of the parties involved in the failed RBI auction which was finally called off last month. Also, he was supposedly part of the consortium that almost bought Entrepreneur magazine earlier this year. More details in release.
Update: From Venturewire: All told, the publications have less than $100 million in annual revenue, said Casella. AV is tapping the $50 million it committed to the platform last year when it first teamed up with Casella. Sienna Ventures, an investor of Asset International, sold its stake to AV with this deal.