Dennis Publishing has sold off two magazines to computer manufacturer Raspberry Pi and a deal is underway to sell a third digital title to an unknown buyer, according to an internal message sent to staff.
The publisher of The Week has sold Custom PC and Digital SLR Photography to Raspberry Pi – which launched a video game magazine in October last year – and is working on the sale of website Know Your Mobile.
Dennis managing director John Garewal told staff that, despite making £4.2m for the company over the last ten years, the three brands were not a part of its “new strategic focus”.
Dennis Publishing has declined to comment.
The message to staff, seen by Press Gazette, said: “Digitally, our focus is on growing our data-driven solutions and affiliate revenues. With this comes significant change and the sale of three brands – Custom PC, Digital SLR Photography and Know Your Mobile.”
The message added: “The three brands, over the last decade, have delivered £4.2m to the bottom line for Dennis… However, as the market evolves, they no longer form a core part of our new strategic focus and therefore are no longer viable businesses for Dennis.”
In a statement on its two new acquisitions, Raspberry Pi Trading Ltd chief executive Eben Upton said: “We’ve been fans of Custom PC and Digital SLR Photography for a long time.
“When the opportunity arose to welcome these publications, and the teams behind them, into the Raspberry Pi Press family we simply couldn’t resist.
“They share with our existing titles a focus on creativity, and on helping their readers cultivate a deeper understanding of their respective fields.
“We’re profoundly grateful to Dennis Publishing for their work in making the transition a success, and look forward to many years as publisher of these amazing titles.”
Custom PC editor Ben Hardwidge said: “I’m actually ridiculously excited about this move.
“Raspberry Pi’s publishing focus is all about fostering computer hobbyism and creating a quality product, which is a perfect fit for Custom PC.
“Over the next few months, we’re going to pour some much-needed investment and love back into the magazine, and bring back some of its classic spirit.
“We’re hoping to offer more in the way of reader involvement, add some new ideas and we might even revive a few ideas from the past.”
Dennis Publishing was snapped up by private equity firm Exponent in July last year for an undisclosed sum.
The publisher owns more than 30 brands, including Moneyweek, Men’s Fitness, Viz Comic and Auto Express.
Picture: Twitter/Custom PC/Digital SLR Photography