±±¾©Èü³µpk10

Money-Media offers online services, publications and conferences for the fund management industry through brands including Ignites, Fundfire, BoardIQ, Agenda and ODX.

It provides news and analysis via its websites and email to mutual fund managers, institutional investors, high-net-worth individuals, company directors and advisers.

The business had revenues of $16m (£8.1m) in 2007 and had estimated gross assets of $4m at year-end.

The FT said the acquisition would strengthen its position with fund managers, a core audience, and would enhance its US edition of FTfm -- its fund management newspaper supplement.

John Ridding, chief executive of the FT, said: "This acquisition supports and extends our strategy of building strong subscriber and digital businesses in core sectors.

"Asset managers need reliable, relevant and timely information about the globalisation of investments, diversification of asset classes, mitigation of risk and frequent changes in regulation.

"Money-Media has built a senior and loyal audience in the US, and we see substantial scope for international growth with the FT's global presence and expertise behind it."

The business will continue to be managed by the senior executive team at Money-Media, led by managing director Andrew Sollinger. He will report into FT financial publishing director Mark Cunnington.

The team will be tasked with continuing to grow the business both in the US and internationally.

Michael D. Griffin, Money-Media's sole voting shareholder and chief executive, said: "Money-Media is firmly established as the US online information service for fund managers who need the latest information on sales and marketing, compliance and regulation, operations and technology, and for directors who need corporate governance intelligence.

"With the FT's global presence and expertise behind it, Money-Media will be able to expand its customer base and product offering into Europe and Asia and both businesses will be able to provide customers with enhanced offerings."

This buyout marks the FT's second acquisition in three months, following the purchase of online recruitment specialist, , in October last year.