1010data Acquired By Media Giant Advance

New York-based business intelligence product provider 1010data has been acquired by cable TV and publishing group Advance for $500m.

1010 offers a big data discovery and sharing platform, and the acquisition will give it the capital required to accelerate market adoption, expand product offerings, and expand into new industries and geographies.

Existing management will continue to lead the company, and retain a stake in the new entity. Sandy Steier, co-founder and CEO, comments: 'Advance is the perfect partner to help us maximize our growth potential as they fully recognize how revolutionary and impactful our technology can be. Becoming a part of Advance ensures that there will be no disruption to our customers, our employees or our business while enabling our organization to scale at an even faster rate'.

Web sites: www.1010data.com and www.advancelocal.net .