Focusing Resources on broadening the Business Model in active markets
Munich, October 11th, 2006 – telegate AG, a leading independent provider of directory services in Europe, has announced the sale of its wholly-owned Swiss subsidiary 1818 Auskunft AG to the US-based InfoNXX-Group. The purchase price amounts to a mid-single-digit Million Euro sum and is made up by a fix payment and to a lower extend by variable component. Both companies agreed to keep additional terms of the acquisition confidential. The transaction has been completed as of 10 October 2006.
The directory services market in Switzerland is not yet liberalized but will be opened up to competition as of 1 January 2007. The sale of the Swiss organisation enables telegate to capitalize this business unit prior to the market opening for an extremely attractive price, without having launch investments or market entry risks to consider.
In the course of the European expansion telegate Group continues to focus resources on the further development within the Group’s current active core markets Germany/Austria, France, Italy and Spain and the benefits of growth opportunities resulting from the broadened business model.
Press Contact:
telegate AG
Claudia Strixner
Fraunhoferstr. 12a
82152 München-Martinsried
Tel.: (089) 89 54-1180
Fax: (089) 89 54-1189
E-Mail: claudia.strixner@telegate.com
www.telegate.com
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