Japan’s Uzabase to acquire online news platform Quartz

TOKYO (AP) — Japanese media startup Uzabase is acquiring Quartz, a New York-based online business news platform, from Atlantic Media.

Uzabase’s deal with the U.S. media company is valued at between $75 million and $110 million, depending on Quartz’s financial performance, and expected to close within the next 30 days, both sides said Monday.

Under the deal, Quartz will handle the English-language version of NewsPicks, Uzabase’s subscription-based business-news platform designed for mobile devices.

The companies have been discussing a partnership since last fall.

Uzabase co-founder and Chief Executive Yusuke Umeda has global ambitions, and NewsPicks entered the U.S. market last year as a joint venture with Dow Jones.

Quartz, founded in 2012, targets business professionals, with 100 journalists reporting from around the world and 20 million people accessing it each month.