Summit Business Media L.L.C. has acquired Judy Diamond Associates Inc.
Summit, New York, is the owner of NU Online News Service, National Underwriter Life & Health and many other publications, conferences and data services.
JDA, Washington, is a leading provider of information and database tools for the insurance and financial services industries.
The JDA product line is based on comprehensive data sets of health insurance and pension plans held by corporations, as well as information on plan sponsors and benefits brokers.
Principal products include the American Directory of Group Insurance Plans, Broker/Carrier Market Share Data, The King of Pension Funds and the Employer Identification Number Finder.
JDA also offers a free Web site that can help consumers look up basic benefit plan information about millions of companies and benefits providers. The site is at Document Link
“JDA is a well-known and respected provider of high-value information for the large and growing financial services market, making it an excellent strategic fit for Summit Business Media,” says Summit Chairman William F. Reilly.
“We are very excited to acquire this premier data provider to the employee benefits industry,” says Andrew L. Goodenough, president of Highline Media, the Summit unit that oversees the National Underwriter publications. “This is a very logical extension of our insurance data, employee benefit reference publishing and magazine brands. We welcome the entire JDA staff to our team here at Summit.”
Jeff Mathuran, Judy Diamond’s son and a 15-year JDA veteran, has been named head of the JDA business at Summit.
Mathuran will report to Reilly Cobb, vice president and managing director of Highline’s Insurance Data Division.
Diamond, the founder of JDA, will continue on with the company as a consultant, with retirement expected at the end of the first quarter of 2007.
JDA was founded in 1986 and now has 13 employees. At the end of this year, JDA and several Summit employees will be moving into new quarters at 1130 Connecticut Ave. N.W., Washington.
JDA was represented in the Summit transaction by Whitestone Communications, Inc., New York.
Summit has the backing of Wind Point Partners, Southfield, Mich., a private equity investment firm with $2 billion in capital under management.