Tag Archives: acquisition

acquisition

Digi Communications NV’s subsidiary in Hungary DIGI Távközlési és Szolgáltató Kft. acquires 99.998395% of the share capital and voting rights of Invitel Távközlési Zrt. for EUR 135.4 million

BUCHAREST, Romania, Jun-2-2018 — /EPR Financial News/ — The Company would like to inform its shareholders that, as a result of the completion of the conditions to closing provided in the share-purchase agreement (“SPA”) signed on 21 July 2017 between DIGI Távközlési és Szolgáltató Kft.(“Digi HU”), as the purchaser, and Ilford Holding Kft. and InviTechnocom Kft. (former name Invitel Technocom Távközlési Kft.), acting as sellers (the “Sellers”), the acquisition by Digi HU of shares representing in total 99.998395% of the share capital and voting rights of Invitel Távközlési Zrt. (the “Target”) was finalized today, 30 May 2018.

The total consideration paid by Digi HU to the Sellers for the acquisition of shares in the Target was of approximately EUR 135.4 million.

The Company welcomes the addition to the Digi group of a key Hungarian telecommunications operator positioned as the second-largest incumbent fixed line telecommunications and broadband internet services provider in the residential and small business customers segment in Hungary. The Target offers an extensive portfolio of services to residential and small business customers, including a variety of multimedia and entertainment services such as interactive, digital and HD television, fast internet offerings and fixed telephony services across its regional networks.

This transaction will allow the Company’s group to consolidate its position on the Hungarian telecommunications market, and to expand its customer reach and experience, as well as to create better operational synergies.

SOURCE: EuropaWire

Who Buys Masterseek.com?

The B2B search giant has been in the news recently as rumors are ripe that it will be acquired by another technology company. There are rumors that Masterseek lies in negotiation with Yandex, the Russian search engine giant, recently listed in Ney York Stock Engine for more than 5 billion USD. There has been no official announcement as yet either from Masterseek or from Yandex about this supposed acquisition of Masterseek by Yandex. But trade analysts believe that a partnership between these two companies will be mutually beneficial for their business interests and also to the share holders.

Masterseek has a market value of over $ 275 million in terms of equities and trade analyst believe that acquiring it will give the share holders of a company, $ 300 million dollars in profit. This has made it interesting as many IT companies, venture capitalist, both in US and outside the US, are competing to acquire it for increasing their share values and also for getting a firm grip in the US search engine market.

Masterseek founded in the year, 1999 in Denmark, by Rasmur Refer. Their current headquarters is at Ney York City in Wall Street. It is believed to handle ninety thousand B2B searches on a daily basis. Also, on 30 th of October, 2008, Masterseek announced that they have acquired the B2B search engine Accoona, which has been quite successful in the countries of US and China. It was initially launched in 2004 and at that time, the former US president, Bill Clinton was its spokesperson. This acquisition has helped Masterseek in improving profitability of the shareholders and since then it has attracted many potential buyers who are looking to enter the US market.

“It is correct that we are open for bids but are in no hurry as we can make an alternative IPO as early as Q1 or Q2 2012,” says Rasmus Refer, the CEO of Masterseek. Experts in the financial environment had estimated that Masterseek can get a market capitalization of up to 450 million USD at an IPO on Nasdaq. So, they are in no hurry to get into a deal with any company, they are looking at their options and thinking if they should consider bids for acquisition or strengthen their business module through IPO. Due to the recent success of Linkelin IPO, we think that they might go for an IPO if they do not get any favorable offers. In all conditions and circumstances, we do feel that their share holders are bound to make a decent amount of profit in the long run.

If any company or venture capitalists want to buy Masterseek, they will need to offer a business deal that the management at Masterseek cannot resist and we feel that Yandex does have the ability at this moment to offer such a deal. Due to the success of their IPO recently they have a lot of surplus cash and they have hinted that they are looking at acquisitions option to capitalize on it.

Via EPR Network
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Cainvest Acquired Sul America International Bank

Cainvest controlled by the Cohab/Aboulafia family from Brazil has announced the acquisition of the totality of shares of Sul America International Bank (Cayman) Ltd. for an undisclosed amount. Cainvest announced an investment of US$ 30 million and renamed the acquired Bank to Cainvest International Bank Ltd.

“We were very impressed with the high level of regulation from the Cayman Islands Monetary Authority and the number of top-of-class service providers with physical presence in the Island. We understand now why the country ranks as the fifth-largest banking center in the world and look forward for a long lasting presence in the country.” states Charles Aboulafia, co-founder and managing director of Cainvest.

The Cohab/Aboulafia family owns an asset manager specialized in Latin American Corporate Eurobonds and a boutique Investment Bank in Brazil. The family also controls Trisoft Group, a conglomerate of manufacturing companies leader in the non-woven industry in Brazil.

Via EPR Network
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Saxo Bank Acquires A 40% Stake In Initto

Saxo Bank, the online specialist in trading and investment, has announced the acquisition of a 40% stake in Initto, the Danish owned software and IT services provider. Initto has around 200 employees based mainly in India and Ukraine and the acquisition of Initto will enable Saxo Bank to continue to support and speed up the development of its trading systems.

Saxo Bank Acquires A 40% Stake In Initto

Designed to meet the varying needs and demands of financial investors and traders, Saxo Bank has developed four specialised and integrated trading platforms; the downloadable SaxoTrader, browser-based SaxoWebTrader, compact SaxoMiniTrader and phone-based SaxoMobileTrader.

Mikael Munck, CEO of Initto, commented: “Initto provides a wide range of customized IT services and software engineering solutions to clients. We have been very successful in offering and integrating our services into the organisation of our clients. We offer access to a wide range of international specialists that focus entirely on delivering high quality solutions to our clients’ allowing them to focus on core competencies, freeing up time for innovation and value creation. This is the secret of our success which we are certain Saxo Bank also will benefit from”.

Since its establishment in 2003, Initto has grown by an average of 50% per year and expects to enhance its service offerings with the support of Saxo Bank as a strong financial partner. Initto is headquartered in Ballerup near Copenhagen with a representative office in Oslo. Initto will continue to develop software and provide services to its existing client base.

In a joint statement, Kim Fournais and Lars Seier Christensen, Co-CEOs and co-founders of Saxo Bank, said: “We are thrilled to have acquired this stake in Initto, which has great synergies with Saxo Bank and fit perfectly with our business model. The acquisition is in line with our ambition to acquire fully developed businesses and utilize their expertise to develop and strengthen Saxo Bank’s products and services. Over the next few years, we will be working with Initto to further increase the value we offer our own clients. Initto’s current and future client base will also benefit from our commitment as client and shareholder. We want to remain a first class service provider and we believe Initto can help us achieve this goal.”

Via EPR Network
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Highway Insurance Group Acquired by LV

LV=, the UK based insurance, investment and pensions group, has announced its acquisition of the Highway Insurance Group, which includes Highway Insurance and Hero Insurance Services, further expanding the fast growing general insurance division of LV=.

The initial offer of 73.35p per share, which was recommended by the Highway Board, was made in August. Highway shareholders also received their interim dividend of 1.65p, payable at the start of October 2008. This gives an overall value of the entire issued share capital of Highway of £150m.

Fenchurch Advisory Partners acted as exclusive financial adviser to LV while Shore Capital Stockbrokers acted as corporate broker to LV=.

Mike Rogers, Group Chief Executive of LV= said: “We are pleased to have completed this deal quickly and we look forward to welcoming Highway into the LV= Group. This acquisition makes sound strategic sense and will assist us in our stated ambition to become a top five insurer in our chosen markets by 2012.”

He continued, “Highway is highly complementary to our existing general insurance operations and will provide a strong platform for growth. Putting the strengths of LV= and Highway together will enable us to compete even more effectively in the insurance broker market.”

Highway Insurance will become part of the LV= General Insurance business which is led by Managing Director John O’Roarke, who formerly headed up the Churchill and RBS Insurance businesses.

Andrew Gibson, Chief Executive of Highway, will be staying on in an advisory capacity until the end of the year, when he will be leaving to explore opportunities outside the LV= Group.

As LV= is a mutual organisation, owned by its members, Highway Insurance will be de-listed from the London Stock Exchange in due course.

About LV=:

LV= is a trademark of Liverpool Victoria Friendly Society Limited (LVFS) and LV= is a trading style of the Liverpool Victoria group of companies. LV= employs over 2,700 people, serves more than 2.5 million customers and members, and manages more than £7.7 billion on their behalf. LV= is the UK’s largest friendly society and a leading mutual financial services provider, providing home insurance and car insurance well as travel and pet insurance direct to consumers. It also offers insurance products exclusively to brokers via the Highway and ABC Insurance brands.


Via EPR Network
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