Turns out there’s still hope for smaller publications.

Or at least that’s the signal from The Next Web (TNW), which sold a majority stake to London-based news giant, The Financial Times.

Neither company disclosed the terms of their deal.

The Financial Times is one of the world’s leading business news organizations. The UK-based publication has made a reputation for its authority, integrity, and accuracy.

TNW focuses on organizing conferences for business and technology. The Amsterdam-based company delivers custom innovation programs to corporates and governments.

Acquiring a tech startup like TNW gives The Financial Times a chance to increase its foothold in the European market. In particular, The Financial Times aims to deepen its reach into the tech community there.

Creating synergy

The Financial Times has shown undeniable interest in the tech industry as of late. The company recently invested in new media and data platform, Sifted.

Its purpose is the same: to target Europe’s innovators and entrepreneurs. Acquiring tech companies allows the Financial Times to expand to other, tech-themed editorial products.

TNW’s CEO, Boris Veldhuijzen van Zanten appears honored working with the Financial Times. “We look forward to working together in this digital-first age and combining our expertise, networks, and influence,” Zanten said on news of the acquisition.

The Financial Times brings in recognition built on rich history and respect around the world. FT’s global vision for the future sees business and technology audiences converging to form thriving forces in society.

Diversifying business

Both companies did not wast time as they announced a new content partnership for TNW2019, The Next Web’s flagship tech conference.

The conference draws 17,500 attendees from around 3,500 companies annually. The UK-based company’s own FT Live is expected to be boosted by the acquisition.

The Financial Times made solid acquisitions through the years such as content production company AlphaGrid in 2016, San Francisco-based investment intelligence company GIS Planning in 2017, and thought leadership and research-service provider, Longitude, in 2018.

TNW 2019

TNW brands its tech festival as “Europe’s leading.” Held in May, the conference is a two-day festival featuring speakers, panel discussions, and workshops.

The Financial Times will co-host the event, where leaders and policymakers will discuss the future’s tech landscape through keynotes and roundtables.

This year’s event will also feature the FT Live Dome, a media hub where attendees get a chance to meet the people behind The Financial Times. The live dome will host interviews with recognized and emerging technology and business personalities.

Tech leaders, industry figures and key policy-makers will come together at TNW2019 in Amsterdam this coming May 9 to 10.

Increasing global prominence

The UK-based newspaper maintains its stability despite media digitalization. It dabbled in monetization despite “pure play” tech companies like Google and Facebook taking away a large piece of the digital-advertising market.

The Financial Times looks to a different angle to increase its global prominence. “It’s unclear if the scope of TNW will change,” says Angela Mackay of FT Live global publisher.

“There are clear synergies between TNW and FT Live, in sharing audiences and delivering the FT’s world-class journalism on live stages in Europe.” according to Mackay.