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A $10.1 million price tag allowed MCG Capital Corporation's JupiterKagan to purchase Jupiter Research from the Jupitermedia Corporation.

Jupitermedia continued to shift more of its focus on the global image sales market. Today, the company disclosed through its financial advisor, The Jordan, Edmiston Group, that the long-rumored sale of Jupiter Research had taken place:

Jupitermedia Corporation (Nasdaq: JUPM) today sold its JupiterResearch division for $10.1 million in cash and the assumption of certain liabilities by the purchaser, subject to post-closing adjustments. The purchaser is JupiterKagan, Inc., a portfolio company of MCG Capital Corporation (Nasdaq: MCGC).
What has happened here is Jupiter Research and Kagan Research LLC have been merged into JupiterKagan Inc, according to Jupiter Research's David Schatsky.

He posted more about the deal today:

"I'm very excited by this merger. Kagan and Jupiter are truly complementary. The overlap in our client bases is minimal, and where we do share clients, we tend to have different buyers: Kagan's users tend to be on the financial and strategic planning side, while our users are typically in marketing (to oversimplify).

"Our business models are complementary as well. Jupiter's business is mostly renewable syndicated research, with a hearty slice of custom research and consulting that extends and personalizes our research services and often feeds back into our syndicated capabilities. Kagan's got a strong consulting and appraisal business--if you are weighing a deal in the entertainment and media sector, Kagan can give you a rigorous appraisal of the true value of your deal."
Schatsky moves up from his senior vice president's role with Jupiter Research to president of JupiterKagan. Kagan's former president Tim Baskerville will become CEO of the new company.

Putting together the two names helps with brand recognition. "MCG Capital is combining the names of Jupiter and Kagan, into JupiterKagan, following this transaction, in order to maintain the Jupiter brand," JEGI's Adam Gross said in an email.

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David Utter is a staff writer for WebProNews covering technology and business.