WebMediaBrands Acquires Social Times; Meckler: One More Acquisition This Year

BtoB internet company WebMediaBrands has acquired Social Times, which is mostly known for its All Facebook blog. In a post on Social Times’ blog, founder Nick O’Neill says he will continue running the company with help from WebMediaBrands (NSDQ: WEBM). Terms of the deal were not disclosed. In September, WebMediaBrands’ CEO Alan Meckler tweeted that the company was “on the prowl for acquisitions” and asked for prospects. In his post, O’Neill sought to reassure the site’s readers, saying that over the next few months, there will be some “new writers posting on our sites, new event announcements, and possibly some new websites as well.”

As for WebMediaBrands, the purchase follows the $18 million sale of its Internet.com unit to online marketing firm QuinStreet, which filed a $250 million IPO about two weeks ago.

Update: In an interview with paidContent, Meckler said he expects to close in on another acquisition either before the end of year or early 2010. He wouldn’t say specify about the kind of company WebMediaBrands would be adding to its group of holdings.

Meckler told me that he’d been in acquisition mode since August. He passed over a few prospects since the summer, settling on Social Times because its offerings nicely matched those of its main addition, Mediabistro, which it bought for $23 million nearly two-and-a-half years ago when WMB was known by its former name, Jupitermedia (NSDQ: JUPM). He also thought two-year-old Social Times was small enough to fit alongside it other holdings.

WMB also wasn’t focused on the All Facebook site. “Social Times has a tech jobs site, classes and events, all of which is very similar to what we have with Mediabistro,” Meckler said. As for the next acquisition on deck, “All I’ll say is that it’s in the media space.”