ProSiebenSat.1, via its strategic investment arm 7Commerce, acquired a majority stake in Verivox, a Heidelberg, Germany-based independent consumer portal for energy.
ProSiebenSat.1 is acquiring 80% of the shares in Verivox for a purchase price of around €170m.
With this acquisition, which is subject to approval by the German Federal Cartel Office, ProSiebenSat.1 is expanding its activities in the segment of comparison portals.
The former owners under the leadership of Oakley Capital will continue to hold a minority interest in the company.
Founded in Heidelberg in 1998 and led by Chris Öhlund, CEO, Verivox is an independent consumer portal for energy and offers online comparisons for telecommunication, insurance and finance products as well as a search engine for commission-free real estate properties and pre-owned automobiles.
In March of this year, 7Commerce had acquired an 85% majority stake in Preis24.de, a deal platform for cell phone rates and smartphones.
FinSMEs
07/07/2015