Blockchain holding group Borderless Services Inc. made headlines in late April amid reports that it had placed a $700 million bid to acquire business news publisher Forbes Media LLC. In an interview with Cointelegraph, CEO Patrick McConlogue shed light on the acquisition target and why it aligns with his organization’s overall vision.
“Acquiring any company is a long process, and there are a lot of moving parts,” McConlogue wrote in an email, adding:
“We are excited to participate either as owners, partners, or combined force with the other bidders. Collectively we all want Forbes back under US ownership and are excited about the next 100 years of Forbes.”
News of the potential acquisition was disclosed by Reuters in an Apr. 29 publication. At the time, Forbes was said to be in talks to go public through a merger with a special purpose acquisition company, or SPAC. In addition to Borderless Services Inc., the news publisher was reportedly fielding interest from a consortium