Darien, Conn. - Jupitermedia, a provider of images, information and events for IT, business and creative professionals, said on Wednesday that it has paid $20 million in cash to acquire New York-based Mediabistro.com, a popular career and community site for media and creative professionals.

The value of the deal could rise by as much as $3 million, depending on the performance of Mediabistro over the next two years.

Founded in 1999 by Laurel Touby, Mediabistro.com includes job postings, educational courses, events, forums, original content and a premium subscription service.

Alan Meckler, the chairman and CEO of Jupitermedia, said that the acquisition provides his company with a "fast growing revenue stream" through Mediabistro's job board.

He added that Mediabistro's original content and blogs will augment Jupitermedia's 150 original content sites.

Related Links:
http://www.jupitermedia.com/corporate/releases/07.07.18-JM_Mediabistro.html   
http://www.mediabistro.com