As seen on Yahoo! News, Moscow-based media firm SUP announced Monday it has bought blog hosting firm LiveJournal, from its parent company Six Apart, as part of a plan to cultivate an international community of people that author such online diaries.
In the deal – of which the financial terms were undisclosed – SUP made the move from licensing the blogging software from Six Apart (which it has been doing for a little over a year now) into full ownership of the company and plans to continue operating from the current offices in San Francisco, California.
“Having gotten to know LiveJournal in Russia over the past year we see enormous potential in developing the business worldwide,” said SUP chief executive Andrew Paulson.
“We believe this is a great opportunity.”
Along with a new management team, SUP promises “significant new investment” in LiveJournal.