American City Business Journals expands with purchase

American City Business Journals, the owner of business publications in 43 U.S. cities, purchased a majority stake in BizEquity.

"Historically, our primary service has been providing breaking local business news to people in those markets," ACBJ CEO Whitney Shaw said. "We remain committed to that important service. Through BizEquity we can enhance our core offering by giving additional, valuable information to businesses of all sizes and to the professionals who serve them."

BizEquity is a real-time business valuation service used by more than 625 financial institutions and some 2,500 wealth advisers.

The deal for undisclosed terms stipulates BizEquity co-founder and CEO Michael Carter will lead a newly created information services division at ACBJ.

Read more from the American City Business Journals.