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March 28, 2006
Zanox Up For Sale?
We've been hearing that something is afoot at affiliate marketing technology firm, Zanox, and it looks like Dow Jones reporters have picked up on it with a story that says an IPO or a trade sale is in the works.
Things are looking up for Berlin-based Zanox
The newswire cites un-named sources in the article, which estimates that Zanox is worth between €250M to €350M, based on Zanox's EBITDA numbers (which are not publicly available) and a mutliple of 20X net profit (based on the multiples apparently enjoyed by its peers, such as recently floated TradeDoubler in Sweden and CommissionJunction in the US.)
Zanox management has told the a:c euro in the past that acquisitions are in its sights. It already completed one in France recently, so an IPO, or a sizable investment by a private equity firm, would fit with that plan, but a trade sale less so.
Read - Zanox plant IPO oder Verkauf bis Ende des Jahres - Kreise (Dow Jones on Finanztreff.de)
Posted on March 28, 2006 09:15 AM | Posted to Advertising | Online services | Permalink
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