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September 25, 2007
OnVista Snapped Up For €138M
Fimatex, ultimately majority-owned by Societe Generale in France, has made a bid for OnVista valuing the company at about €138M. The German web venture runs OnVista.de, the biggest independent financial portal in the country (according to research published on it IR pages).
It was acquired by Fimatex for its users, according to FT Deutschland. The financial news portal has about 480K unique visitors (according to the aforementioned analysts' research reports).
Fimatex bought the company to get access and to hopefully convert OnVista's users. Fimatex' main business is e-trading, as we understand it. The deal rationale is a notion backed up by what we hear from our own sources.
It's looking like the French buyer got a bargain, even if the purchase price is at a premium to what OnVista's share price was yesterday morning before the deal was announced.
We say that because the company was generating about €22M a year in sales. It also has several other web properties that could very well be sold off post-acquisition, suggested one of our trusted readers in an email exchange.
In addition to OnVista, it recently launched Namendo, an address brokerage, it runs an ehealth portal OnMeda, Ligatus, a performance marketing biz, and Ad2Net, an online advertising sales business it recently acquired.
Word is that OnVista's management had been posisitioning the company as a media acquisition target after selling its stake in a stock market information systems company to joint venture partner IS Teledata in 2005.
Read - Fimatex Mutter übernimmt Onvista (ftd)
View OnVista home and IR page
Posted on September 25, 2007 09:26 AM | Posted to News And Updates | Permalink
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