05.06.2014
TOMORROW FOCUS AG DE0005495329
DGAP-News: TOMORROW FOCUS AG acquires remaining minority stake in WebAssets B.V.:
DGAP-News: TOMORROW FOCUS AG / Key word(s): Acquisition
TOMORROW FOCUS AG acquires remaining minority stake in WebAssets B.V.:
05.06.2014 / 18:03
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Corporate news
TOMORROW FOCUS AG acquires remaining minority stake in WebAssets B.V.
Munich, Germany, 5 June 2014 - TOMORROW FOCUS AG is increasing its
shareholding in WebAssets B.V. by acquiring an additional 49.01 percent,
taking its stake from 50.99 percent to 100 percent. Based in the Dutch town
of Zeist, WebAssets B.V. operates the Zoover-branded hotel reviews and
holiday booking portals as well as the WeerOnline and MeteoVista weather
websites. The purchase price is based on an overall valuation of WebAssets
B.V. corresponding to seven times the EBITDA for 2014. According to company
estimates, WebAssets B.V. is expected to generate revenue of between EUR of
approx. 14 million and EBITDA of EUR 5 to 6 million in the current
financial year.
The original plan was to acquire the outstanding shares between 2015 and
2017 as part of a three-tranche deal. A sum of EUR 22.2 million was
recorded under other liabilities in TOMORROW FOCUS AG's consolidated
balance sheet for the takeover. This balance sheet item will be reduced by
the early acquisition of the remaining shares, resulting in a one-off
figure of EUR approx. 1 million being posted to other operating revenue.
In the course of the complete takeover of WebAssets B.V., Dr Philipp Goos
will join the company's management team along with Stephan Bosman effective
1 September. Dr Philipp Goos is currently Managing Director of Germany's
leading physician ratings portal jameda, a wholly-owned subsidiary of
TOMORROW FOCUS AG.
Dr Philipp Goos will report to Toon Bouten, CEO of TOMORROW FOCUS AG.
Zoover has the highest reach figures of any holiday and travel booking and
review portal in the Benelux region. MeteoVista is the second-largest
weather portal in Benelux and will further strengthen the Publishing
segment.
In addition to WebAssets B.V., TOMORROW FOCUS AG owns 100 percent of
HolidayCheck AG, the number one German-speaking hotel reviews portal.
Toon Bouten, CEO of TOMORROW FOCUS AG, had this to say about the deal:
"For our Travel segment we are planning to build one integrated travel
company based on one IT platform, one content platform and shared
competence centres. Getting the full ownership of WebAssets B.V. is the
next step in building one integrated travel company for TOMORROW FOCUS AG.
MeteoVista adds the weather segment to the existing publishing portals such
as FOCUS, HuffPost, NetMoms and Finanzen100."
About TOMORROW FOCUS AG
TOMORROW FOCUS AG (ISIN DE005495329) is based in Munich, Germany, and is
one of the leading exchange-listed Internet groups in Germany. The Group
has a workforce of around 750. On 1 January 2014, its business operations
were restructured into three new segments: Travel, Publishing and
Subscription.
The Travel segment includes HOLIDAYCHECK AG, which operates a number of
hotel review and travel booking portals by the same name; the travel
division of WEBASSETS B.V., which operates the ZOOVER hotel review portals;
TOMORROW TRAVEL B.V., which operates the Dutch online travel agent TJINGO;
and RPC VOYAGES SAS, which operates the French online travel agent ECOTOUR.
The Subscription segment is made up of ELITEMEDIANET GmbH, which operates
the premium online dating agency ELITEPARTNER.de; JAMEDA GmbH, which
operates the physician ratings portal JAMEDA.de; and ORGANIZE.ME GmbH,
which operates an app-based document organisation and reminder system.
The Publishing segment includes TOMORROW FOCUS MEDIA GmbH, one of Germany's
leading digital marketing providers; TOMORROW FOCUS PUBLISHING GmbH, which
operates a number of Internet portals such as the news and utility
journalism site FOCUS Online; the news portal and platform for views and
blogs THE HUFFINGTON POST; the finance and stock market information portal
FINANZEN100; the parent portal NETMOMS GmbH; and the meteorological arm of
WEBASSETS B.V., which operates the METEOVISTA and WEERONLINE weather
portals.
Media and Investor Relations contact:
TOMORROW FOCUS AG
Armin Blohmann
Neumarkter Strasse 61
81673 München
Germany
phone +49 (0)89 9250 1256
fax +49 (0)89 9250 2403
email [email protected]
www.tomorrow-focus.de
http://twitter.com/tomorrowfocus
http://facebook.de/tomorrowfocus
http://youtube.com/tomorrowfocus
End of Corporate News
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05.06.2014 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: TOMORROW FOCUS AG
Neumarkter Str. 61
81673 München
Germany
Phone: +49 (0)89 9250-1256
Fax: +49 (0)89 9250-2403
E-mail: [email protected]
Internet: www.tomorrow-focus.de
ISIN: DE0005495329
WKN: 549532
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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