Tuesday, December 23, 2008

Asset International sold; Casella named new CEO

By Galen Moore

Austin Ventures announced Monday it signed an agreement to acquire Asset International Inc., a Stamford, Conn.-based financial services provider.

Austin Ventures entrepreneur-in-residence Jim Casella will take over as CEO of Asset International, according to the companies’ joint statement. Casella is a former COO of International Data Group and CEO of Reed Business Information. According to his corporate bio, he recently began working with Austin Ventures to “identify opportunities to buy and build” in business-to-business media.

Asset International founder and director Charlie Ruffel will continue in a “strategic role” with the company, according to the press release.

With new capital and management, Asset International plans to launch new products in the global funds management space, it said. Terms of the deal were not disclosed.

Asset International provides publishing, e-mail, newsletter and education portals focusing on retirement and international securities services industries, including the Plansponsor, Planadviser and Global Custodian publications.

Austin Ventures is a venture capital and private equity firm based in Austin, Texas, with $3.9 billion under management. The company focuses on business services, information services, integrated media, computer and communications software and enterprise software.