VC-Backed Zinio Acquired

Gilvest LP has acquired Zinio Systems Inc., a San Francisco-based digital publishing and distribution platform for magazines and books. No financial terms were disclosed. Gilvest is owned by David Gilmour and managed by Doug Carlson. Zinio had raised around $34 million in total VC funding since 2001, from firms like New Enterprise Associates, Intel Capital, Palisades Ventures, Apax Partners, North Bridge Venture Partners and Commonwealth Capital Ventures. It had sold its magazine e-commerce site last month to M2 Media Group.< ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />