101communications Secures $25 Million in Financing

Chatsworth-based 101communications, an IT magazine publisher has secured $25 million in senior financing from Merrill Lynch Capital, a division of Merrill Lynch Business Financial Services Inc. The proceeds from the financing will provide 101 with the capital necessary to fuel organic product development and fund prospective acquisitions. Founded in 1998, 101communications is a media company that specifically targets the IT community, including software development teams, networking and communications experts and senior information executives. In addition to magazines, 101’s properties include trade journals, e-newsletters, conferences and seminars, training courseware and associated web-based services.