Axel Springer took a 9% stake in the online media company in January and will own 97% after the closure of a deal that values it at $390m cash and debt-free.
Digital media firm Axel Springer agreed today to pay $343m for an 88% stake in US-based online media company Business Insider, already one of its portfolio companies.
Founded in 2007, Business Insider covers business news from around the world in addition to more generalised viral content.
The company, which employs 325 people and attracts 76 monthly unique visitors, also offers a paid data subscription service called BI Intelligence.
Axel Springer already held a 9% stake in Business Insider after leading…
