STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Eniro (STO:ENRO), the Nordic leading company within local search, is acquiring specific assets, in De Gule Sider of Denmark. The acquisition strengthens Eniro’s position as the largest online/mobile company in the Danish search market.
Today, Eniro agreed to acquire specific assets in De Gule Sider (DGS) Denmark. Under the acquisition, Eniro will purchase specific online/mobile assets, including the dgs.dk domain, trademarks, IP rights, IT systems, accrued order bookings and customer lists that supplement Eniro’s existing business. Eniro will take over 42 key employees and sales representatives. The acquisition entails a low financial risk.
The SEK 27 M purchase consideration will be paid when the transaction has been finalized. As DGS was forced into bankruptcy in November 2011, the operations will be taken over already on December 30, 2011. The acquisition is not subject to review under competition law. Before being forced into bankruptcy DGS had an estimated turnover for 2011 of DKK 240 M in the parts acquired by Eniro.
DGS’ current printing titles will be discontinued. Eniro will publish DGS’ remaining catalogues for 2011. Its online business will continue to operate under a separate sales team. Otherwise, the DGS business will be fully incorporated into Eniro, resulting in lower operating costs by enhancing organizational efficiency and working under a joint structure. The acquisition is expected to generate a positive contribution to Eniro’s earnings in the 2012 fiscal year.
“The acquisition of De Gule Sider further strengthens our position as a leading Nordic search company. Eniro thereby confirms its leading online/mobile position and strengthens its overall offering in the Danish market,” says Johan Lindgren, President and CEO of Eniro.
Eniro is the Nordic region’s largest search company. Both consumers and companies can use Eniro’s services to easily locate where to buy services and products – regardless of whether the channel is internet, catalog or mobile. Advertisers can actively market themselves to interested consumers, find new customers and increase sales. Better search means better business.
Eniro has 3,700 employees in the Nordic region and Poland and has been listed on Nasdaq OMX Stockholm since 2000. During 2010, Eniro’s revenues amounted to SEK 5,326 M and EBITDA was SEK 605 M. Headquarters are located in Stockholm, Sweden. More on Eniro at www.eniro.com
This Press Release contains information that Eniro AB (publ) is required to disclose in accordance with the Swedish Financial Instruments Trading Act and/or the Swedish Securities Market Act.
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