Artnet to Go Private Following Beowolff Buyout of $65 Million USD

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Summary

  • Beowolff Capital is acquiring Artnet for $65 million USD, offering €11.25 EUR per share—a 97% premium
  • The deal includes a 29.99% stake from Weng Fine Art AG, ending a years-long control battle

Beowolff Capital has revealed a $65 million dollar agreement to purchase Artnet, with intentions to make the business private. The financial group has already obtained 65% of Artnet’s shares and is proposing €11.25 EUR per share to the remaining shareholders. This offer represents a 97% increase over Artnet’s closing price on March 3, which was the last trading day prior to takeover rumors becoming public.

Under the terms of the agreement, Beowolff will acquire approximately 29.99% of Weng Fine Art AG for approximately €20 million, thus putting an end to a prolonged dispute between Artnet and the German art investment company. The deal is set to be finalized on May 30, 2025.

After acquiring Artsy, Artnet, like Beowulf, is now planning to conquer the digital art world’s expanse. Their aim is to establish an interconnected network of art platforms, all fueled by shared artificial intelligence technologies. This network is intended to simplify transactions, increase data accessibility, and enhance market transparency.

Although there’s a new owner, Artnet will carry on with business as typical, maintaining its management team, product lineup, and news platform, Artnet News. Beowolff believes that Artnet’s worldwide influence and reputation as a marketplace and source of information for the art community offer lasting value.

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2025-05-27 20:25