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RNS - telegate acquires majority of shares in klickTel AG - 78,6 percent of klickTel shares acquired

Company: 11 88 0 Solutions AG Date: 2008-02-19 Language: English Register to download

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 News Details

Ad-hoc | 19 February 2008 13:20

#   

telegate acquires majority of shares in klickTel AG – 78,6 percent of klickTel shares acquired

**telegate AG / Acquisition**

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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telegate AG, one of Germanys leading ‘local search’ providers, concluded
purchasing agreements with a variety of shareholders of klickTel AG to take
over a majority stake in the company. For a cash consideration of around 25
million Euros, telegate AG acquires 78,6 percent of klickTel's share
capital. The transaction was approved by the Supervisory Board of telegate
AG at its meeting today and is now merely subject to clearance by the
German Federal Cartel Office. The transaction is due to be completed with
beginning of the second quarter of 2008.

Boris Polenske, founder and CEO of klickTel AG, will actively assist
integrating the company into the telegate Group over the coming weeks
before leaving the company, effective as of June 30, 2008. The deal ranks
as the biggest investment telegate has done over the last few years and
underlines the strategic significance the advertisement business and its
associated growth potentials hold for the Group.

Following liberalization of the German telecommunication market, klickTel
AG managed to position itself as one of the most successful providers for
cross-media telephone and industry directories, generating annual sales of
approximately 20 million Euros. The bulk of  revenues is made through
marketing advertisement entries to small and medium-sized enterprises.
Further to these activities, klickTel also sells directory assistance
specific software and licenses to both private and commercial users. The
company is listed in the Entry Standard of the German stock exchange
'Deutsche Börse'.

This transaction enables telegate AG to establish itself as one of the
leading ‘local search’ providers for all modern media-channels in Germany.
telegate thus closes the market gap between traditional 'Yellow
pages'-publishing houses and conventional internet search engines, thereby
securing an excellent competitive position as specialist in the growth
market of 'local search'. Together the two companies telegate and klickTel
are already today processing over 210 million consumer search requests,
which corresponds to approximately 15 percent of the entire market volume
for directory assistance and industry queries. Together the two companies
employ roughly 400 sales experts and are therefore equipped with one of the
biggest nationwide sales organizations in Germany that specializes in small
and medium-sized companies.


Claudia Strixner
Head of Public Relations
telegate AG
Fraunhofer Strasse 12a - 82152 Munich-Martinsried/Germany
Tel.: ++49 (0)89/8954-1188 - Facsimile: ++49 (0)89/ 8954-1189 
E-mail: claudia.strixner@telegate.com


19.02.2008  Financial News transmitted by DGAP
----------------------------------------------------------------------
 
Language:     English
Issuer:       telegate AG
              Fraunhofer Str. 12a
              82152 München-Martinsried
              Deutschland
Phone:        +49 089 - 89 54 0
Fax:          +49 089 - 89 54 10 10
E-mail:       info@telegate.de
Internet:     www.telegate.com
ISIN:         DE0005118806
WKN:          511880
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Hannover, Düsseldorf, Hamburg, München, Stuttgart
 
End of News                                     DGAP News-Service
 
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