Advance/Newhous buys 1010data for $500 mln

Advance/Newhouse has acquired 1010data Inc. for $500 million. New York-based 1010data provides a cloud-based platform for big data discovery and data sharing. Norwest Venture Partners made a $35 million private equity investment in 1010data in 2010. BMO Capital Markets advised 1010data while Foros advised Advance. Advance/Newhouse is an affiliate of Advance Publications.

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