ProSiebenSat.1 Acquires Majority Share in preis24.de
• Top deal platform expands the ProSiebenSat.1 network
Unterföhring, May 24, 2012 - SevenVentures, the venture subsidiary of the ProSiebenSat.1 Group, has acquired a majority share in preis24.de, a subsidiary of Sixt e-ventures. preis24 is an Internet-based price comparison service featuring top deals for contracts for private consumers, particularly in the areas of mobile communications and DSL. Tim Heidfeld heads up the businesses. The acquisition is subject to approval by the German Federal Cartel Office.
"Approximately one fourth of German consumers recognize the blue piggy bank as an advertising vehicle for preis24. Interested parties know that with our price comparison service, they can save up to 30% on brand-name products and contracts - from the telecommunications field, for example - compared to going through the provider directly," explains Tim Heidfeld, founder and CEO of preis24.de. "And it's not just the blue piggy bank of preis24 that has reason to celebrate. With Sixt e-ventures as an investor, and now that we are the newest member of the ProSiebenSat.1 family, we're looking forward to further growing and boosting our market share in the successful medium of TV," Heidfeld remarks.
Managing Director of SevenVentures Claas van Delden comments about the majority interest: "With a majority share in preis24.de, we are continuing to expand our presence in the digital world. Since a direct connection exists between e-commerce and TV, preis24.de has enriched our investment portfolio by adding an online portal with excellent prospects."
Konstantin Sixt, Managing Director of Sixt e-ventures GmbH: "The development of preis24.de is a success story. By taking advantage of the clear benefits offered by the price comparisons on our website, countless customers can save hard cash. With this website, Sixt e-ventures has built up a holding on the Internet that is in line with its strategic orientation. Now, with the acquisition of a majority interest by ProSiebenSat.1, we have achieved a very successful exit and will continue to participate in future gains in value. At the same time, the involvement of ProSiebenSat.1 has opened up the next chapter in the story of preis24.de; the ideal conditions are now in place for the website to further increase its name recognition and allow even more customers to take advantage of significant savings."
SevenVentures is the venture arm of the ProSiebenSat.1 Group, one of the leading media companies in Europe and Germany's largest TV network. With SevenVentures' media-for-equity and media-for-revenue-share business, companies receive advertising time in return for a share in revenues or an equity stake in the company. At the core, the ProSiebenSat.1 subsidiary bundles companies that already have reached a certain market maturity and which are of strategic significance for the TV group as well as innovative start-ups and young companies with proven business models that can continue to grow with the support of ProSiebenSat.1. The focus is on start-ups and brand development. With numerous investments in different market segments, SevenVentures is the leading media investor in Germany.
preis24 is an Internet-based price comparison service for new customer acquisitions featuring top deals for contracts for private consumers, particularly in the areas of mobile communications and DSL. By making orders via preis24, with many contracts customers can save up to 30% compared to ordering directly from providers. By using preis24, over 200,000 satisfied customers have already successfully made comparisons and saved money. preis24 offers an overview of selected rates from different industries, including Internet, cell phones, power and gas, insurance companies, bank products, as well as shopping and travel. The portal is a shareholding of Sixt e-ventures. Sixt e-ventures bundles different Internet-based and New Media business models that do not affect the core business of Sixt. Apart from Sixt e-ventures, additional partners include the founder and CEO of preis24, Tim Heidfeld, and Sascha Schumann, CTO of preis24. Additional information is available at www.preis24.de.
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