Hearst takes 50% stake in social media and online design tools firm

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Hearst Electronics Group has taken a 50 percent stake in Aspen Labs, a company focusing on social media and online design tools for the electronics industry.

Aspen Labs’  social media platform www.eeweb.com is reportedly used by engineers to connect with each other. Aspen also has a web-based schematic design tool for engineers that is presently available under a license agreement for manufacturers. Additional design tools are being developed for release later this year.

Barron pounces on Aspen, a social media and design tools firm

Bill Barron, VP/publishing director, Hearst Business Media, commenting on the work Apsen Labs founders Joe Wolin and Cody Miller (two former Micron engineers), said: “As if their social media acumen was not enough, they are also helping us break new ground in our space by introducing design tools for EE’s to assist them in their daily work. I’m not talking about just information tools, but rather hands on tools that allow engineers to design a product, fill a B.O.M., and send out for build all in one place.  These tools can be licensed by manufacturers to be branded as their own much the same way many license our StockCheck software tool to allow for channel ordering off their sites today.”

Terms of the agreement were not disclosed.


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