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ZDNet which agreed to be bought by CNET Networks Inc. (NASDAQ: CNET) in July, said on Monday it has increased its investment in the ZDNet Australia Internet property to gain full ownership.

Terms were not disclosed.

ZDNet Australia, which was started as part of a joint venture with APN News and Media, becomes the company's seventh wholly-owned Web property outside of the United States, the company, which operates a network of technology-related sites, said in a statement.

Australia currently has nearly five million Internet users, and more than seven million Australians are expected to embrace the Internet over the next three years, the company said citing a report from Jardine Flemming.

Click on the news link at the top of this page to read the full press release.

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