Hearst Electronics Group acquires 50% of Aspen Labs

Commenting on the news, Richard P. Malloch, president, Hearst Business Media, said: “We are delighted to bring the Aspen Labs team and their family of products serving the electronic engineering community together with our existing products, which complement each other so well. Our investment in Aspen Labs is right in line with our strategy to support our customers’ efforts with innovative best-in-class information and software services that bring together buyers and sellers.”



Aspen Labs’ active social media platform www.eeweb.com is used by engineers to connect with each other and has seen impressive growth in members and traffic since inception. In addition, Aspen has a Web-based schematic design tool for engineers that is presently available under a license agreement for manufacturers to better serve their customer needs. Additional design tools are being developed for release later this year.



“This investment brings us into an entirely new business and allows us to better serve our customers with new tools for their audiences,” said William Barron, VP/publishing director, Hearst Business Media.



“We are excited to partner with the Hearst Electronics Group,” said Cody Miller, president of Aspen Labs. “As the industry leader, Hearst’s experience will enable us to deliver our unique set of design tools and our social media platform to a global audience.”