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INTERSHOP Communications AG — M&A Activity 2011
Jun 21, 2011
227_rns_2011-06-21_9f9aa29d-4b85-408b-bb12-e44d0c3feefe.html
M&A Activity
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Corporate | 21 June 2011 08:47
Intershop further expands strategic alliances
Intershop Communications AG / Key word(s): Miscellaneous
21.06.2011 / 08:47
– eBay becomes new Intershop major shareholder
– E-commerce alliances provide strategic competitive advantage
– Future investments ensure accelerated growth
Jena, June 21, 2011 – Intershop Communications AG (ISIN: DE000A0EPUH1), supplier of integrated e-commerce solutions, is further expanding its network of strategic alliances and will be gaining a new major shareholder. Upon expiry of the period of acceptance on June 17, 2011, the US group eBay Inc. will hold the majority of shares in GSI Commerce Solutions, Inc., Intershop's cooperation partner and major shareholder up to now. This makes eBay the largest individual shareholder of Intershop Communications AG. The takeover opens up further growth opportunities for Intershop on account of eBay being one of the leaders in the global e-commerce market.
'We are looking forward to welcoming eBay as a powerful new major shareholder. Strategic alliances are extremely important for Intershop to launch our leading technology platform more quickly in the market, especially outside of Europe,' comments Dr. Ludger Vogt, Member of the Board of Intershop. 'We aim to multiply the positive experiences with our cooperation partner GSI by entering into further alliances and by doing so drive our internationalization.'
Bob Swan, CFO of eBay Inc. says: 'The Intershop software and GSI on-demand webstore platforms are provided for large and medium sized enterprise retailers, combined with our latest acquisition of the Magento open source commerce platform for small businesses, will enhance our position as the leading strategic global commerce partner of choice for retailers and brands of all sizes'
'Code sharing' as competitive advantage for all partners
Intershop views strategic alliances mainly as an opportunity for expanding its technological leadership and for implementing product innovations more quickly. 'Code sharing' within the partnership transforms joint product developments into a competitive advantage for all partners. In this Intershop model, innovation and IP rights are pooled in the latest generation of e-commerce software. All partners and customers benefit from these updates of the standard product.
'Intershop and GSI entered into a strategic partnership to provide a unique sales platform for medium and large-sized global players, in form of a license as well as a SaaS solution. This entirely fits eBay's strategic orientation regarding global commerce,' says Henry Göttler, Member of the Board of Management of Intershop.
Future investments and additional partnerships ensure accelerated growth
Intershop will continue on its profitable growth path and get prepared to use additional market opportunities by targeting its recruitment measures. These efforts will focus on research and development. At present, Intershop's developers are working together with the partner GSI Commerce on the new generation of Intershop software, which is to be launched this year.
'We aim to grow even more quickly than before, particularly in the non-European markets. To achieve this, we will enter into further partnerships, which could be cemented in the form of shareholdings in individual cases. We plan to prepare a basis for this by creating new authorized capital at the next Shareholders' Meeting,' explains Ludwig Lutter, CFO of Intershop.
Investor Relations Contact:
Stephan Leschke
Phone: +49.3641.50-1371 [email protected], http://www.intershop.com/investor-relations.html
End of Corporate News
21.06.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG.
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| Language: | English |
| Company: | Intershop Communications AG |
| Intershop Tower | |
| 07740 Jena | |
| Deutschland | |
| Phone: | +49 (0)3641-50-0 |
| Fax: | +49 (0)3641-50-1002 |
| E-mail: | [email protected] |
| Internet: | www.intershop.de |
| ISIN: | DE000A0EPUH1, DE000A0C4ZE3 |
| WKN: | A0EPUH, A0C4ZE |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart |
| End of News | DGAP News-Service |
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| 129237 21.06.2011 |