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Eniro to strengthen its position in Denmark through strategic market acquisition
Friday, 23 December 2011
Eniro, the leading Swedish search engine and yellow pages producer announces that it wants to strengthen its position in Denmark as move to maintain its position as the Nordic leading company within local search business.

The company in that effect will be acquiring specific assets, in De Gule Sider of Denmark, according to a press release. The acquisition is aimed at strengthening Eniro’s position as the largest online/mobile company in the Danish search market, the company says.

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, according to the company.

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.
By Scancomark.se Team

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