JMG Exploration Inc. (OTCBB: JMGE), soon to be renamed MediaShift Inc., has acquired New York-based Travora Media Inc., a travel and lifestyle media company.
Terms of the deal were not released.
JMG facilitated the transaction through its subsidiary AdVantage Networks, a digital advertising technology provider. The sale of Travora marks the exit of several investment firms, including StarVest Partners, Rho Capital Partners and Village Ventures.
Travora, founded in 2004, raised some $30 million in funding. It represents roughly 300 travel publishing sites, such as Fodor’s, Viator, and Vayama. It generated $11 million in revenue in 2011. By merging with AdVantage, the service hopes to expand and improve user experience by assisting in travelers' trip planning and flight booking.
Tavora is believed to have been up for sale since December.
Petsky Prunier, led by Seth Rosenfield and Michael Petsky, served as exclusive financial adviser to Travora. The sale is the second transaction Petsky Prunier has advised the company in 2013. In January, Petsky Prunier advised Travora on its sale of 10Best.com, a provider of online travel guide for top destinations around the world, to USA Today, owned by Gannett Co. (NYSE: GCI).