The acquisition also includes the newly launched YNOTEurope.com. Terms of the deal were not disclosed.
"The assets were acquired from former YNOT.com owner Gary Grigoryan for an undisclosed sum and will be used by [parent company] YNOT Group as the anchor for an all new lineup of information and technology products the company plans to launch in the coming months and years," said the YNOT Group.
Young, who previously served as president for YNOT Network, will retain his position as president under the new company. Also moving to the new YNOT Group is YNOT veteran Jay Kopita, who will continue to head up ad sales for YNOT.com, YNOTEurope.com and Cybernet Expo.
"As you can imagine, these deals don't happen overnight, and this asset acquisition is something we've been working on for quite a while," Young told XBIZ. "It's very gratifying to me that YNOT Group was able to finalize this deal because it opens all kinds of doors for our company's future growth, and it allows me to reward our staff for their dedication and hard work.
"We've put together a very talented group over here, and it's safe to say that big things are in store for YNOT in the coming months."