A major business takes over has happened in Atlantic Media’s business news site. Quartz, the site which Atlantic Media created in 2012, will be sold to the Japanese financial intelligence company Uzabase for a price between $75 million and $110 million, depending on its performance, according to a statement. This acquisition is going to be the second major international media takeover by a Japanese company in recent years. In 2015, a Japanese media group bought The Financial Times, the British business newspaper for $1.3 billion.

Atlantic Media’s sale of Quartz is considered as a huge one in the  media industry especially at a time when the industry is undergoing drastic struggle  to adapt to the internet era .“Uzabase’s ambition echoes our own — to build the leading business news brand of our century — and now we are in this mission together,” Kevin Delaney, Quartz’s editor in chief and a founder of the site, wrote in a memo that was emailed to employees.

Started with just 20 journalists, Quartz quickly found an audience by presenting short aiming at tech-savvy business readers. With an editorial staff steeped in technology, the site has experimented with new ideas, including making bots that give readers the news and integrating ads into its newsfeed. Today, the company — which has its own bot studio, a number of popular newsletters and a project for a video show on Facebook — employs 215 people, including more than 100 journalists. Quartz generated $27.6 million in revenue last year, down from $30 million in 2016. 

Quartz will retain its name, brand, staff, and offices, according to the announcement. Mr. Delaney and the publisher, Jay Lauf, will share the title of chief executive and will report to Yusuke Umeda, a Uzabase co-founder.