Hearst Business Media Announces the Acquisition of Embedded Developer

NEW YORK, NY--(Marketwire - November 5, 2007) - Hearst Business Media, a unit of Hearst Corporation, and Convergence Promotions LLC have partnered on a strategic joint venture to transform the successful North American demand creation site, www.EmbeddedDeveloper.com, into a leading global supply chain solution.

Under the terms of the agreement, a new corporation, Embedded Developer LLC, has been formed in the State of Delaware and will have its principal executive offices at Hearst Business Publishing in Uniondale, NY. Glenn ImObersteg, president and CEO of Convergence Promotions, LLC, will become president and CEO of Embedded Developer LLC.

Launched in 2005 as a demand creation site, www.EmbeddedDeveloper.com simplified the device evaluation process for engineers with its unique parametric search and compare engines. For the first time, engineers could easily search and compare processors from different manufacturers. The site was positioned on Arrow North America's homepage, and linked to its shopping cart so customers could move through the entire opportunity pipeline, starting with a search and concluding with the purchase of devices and tools or requests for samples and quotes.

"Convergence Promotions is delighted to have the opportunity to work with Hearst Business Media," said ImObersteg. "Together, we will be able to add incredible value to our semiconductor sponsors and the engineering community. This joint venture will quickly grow EmbeddedDeveloper.com into a leading global demand creation site and major brand in the electronics industry."

Hearst Electronics Group is the largest publisher of product information to the electronics industry, eNewsletters, Web sites, magazines, inventory access tools and databases of engineers worldwide. In addition to achieving high visibility through promotions in their properties, key technology, such as ICMaster's distributor inventory tools and inventory watch alerts, among others, will be employed on www.EmbeddedDeveloper.com to add increased value to the site.

Commenting on the acquisition, Bill Barron, vice president and publishing director for Hearst Business Media, said: "Embedded Developer is an exciting new addition to the Hearst Electronics Group. Together with our leading brands in the U.S. and China serving electronic engineers and engineering managers, we now provide an unparalleled opportunity for advertisers to reach key decision makers in the world's most important semiconductor and component markets."

About Hearst Business Media

Hearst Business Media (www.hearst.com/business_media/), a division of Hearst Corporation, operates more than 20 business-to-business information services, electronic databases and publications. The group has holdings in the automotive, electronic, medical/pharmaceutical and finance industries. Among its core competencies is the aggregation of time-sensitive price, product and technical information that is integrated into business and professional processes.

About Convergence Promotions LLC

For over twenty years, Convergence Promotions has been the leading provider of alliance programs in the embedded industry. Their partner programs and ecosystems, produced for the world's leading semiconductor companies, have created synergy for sponsors and partners by providing an environment that fosters business relations, and creates customer awareness to increase sales for both the sponsor and their partners. In 2005, Convergence created www.EmbeddedDeveloper.com, a successful demand creation site in the electronics distribution market.

Contact Information: For more information: Glenn ImObersteg Embedded Developer 925-516-6227 Bill Barron Hearst Business Media 516-227-1322