US financial investor General Atlantic has acquired a 25.1% stake in NuCom Group in which German media company ProSiebenSat.1 bundles its e-commerce activities.
The transaction is based on an enterprise value of €1.8 billion, ProSiebenSat.1 announced in Munich. Through the partnership, the compay want to accelerate growth of its e-commerce business and drive further expansion into new markets.
As the first joint transaction, NuCom Group has taken over the outstanding minority shares in Verivox, Parship Elite Group and SilverTours, operator car rental portal billiger-mietwagen.de.
At the same time, ProSiebenSat. 1 announced its financial results for 2017: The group’s turnover increased by 7% to €4.01 billion, the adjusted EBITDA rose by 3% to €1.05 billion and adjusted net income grew by 3% to €550 million.
The group generated 51% of its revenues outside the TV advertising business (previous year: 47%).
In 2018, ProSiebenSat.1 expects a further increase in revenues and a profitability in the mid-20% range based on the adjusted EBITDA.
Max Conze, the former head of UK-based technology company Dyson, will take over the position of ProSiebenSat.1 CEO from Thomas Ebeling on June 1, 2018 who announced his resignation in November 2017.
