Eniro acquires 118 800
Eniro is to acquire the directory enquiry company, 118 800, and thus strengthen its position in the Swedish market for personal search engines.
Today, Eniro signed an agreement to acquire the directory enquiry company, 118 800, with associated brands, telephone numbers and other intellectual property rights. The purchase consideration totals SEK 20 million in cash on completion of the transaction, while the remaining remuneration, maximum SEK 30 million, will be based on the company’s performance in the coming two years.
118 800 is profiled as the low-cost alternative among Swedish directory services and sales in 2010 amounted to approximately SEK 70 million, with an EBITDA of slightly more than SEK 19 million. The operation will be consolidated with Eniro’s Voice business area during the first quarter 2012. The acquisition is conditional upon approval from the Swedish Competition Authority.
In a market plagued by declining call volumes, the acquisition is anticipated to contribute to stabilizing revenues from Eniro’s Swedish directory services.
“118 800 has successful positioning and is aimed at a younger user group. We will continue to maintain two, different directory services, which will complement each other in the Swedish market and strengthen our total offering,” says Mattias Wedar, CEO Eniro Sweden.
For more information, please contact:
Johan Lindgren, President and CEO, Ph: +46 8 553 311 14
Mattias Wedar, CEO Eniro Sverige, Ph: +46 8 553 310 13
Cecilia Lannebo, Head of Investor Relations, Ph: +46 722 208 277, email:
This Press Release contains information that Eniro AB (publ) is required to disclose in accordance with the Swedish Financial Instruments Trading Act and/or the Swedish Securities Market Act.
Eniro is the Nordic region’s largest search company. Both consumers and companies can use Eniro’s services to easily locate where to buy services and products – regardless of whether the channel is internet, catalog or mobile. Advertisers can actively market themselves to interested consumers, find new customers and increase sales. Better search means better business.
Eniro has 3,700 employees in the Nordic region and Poland and has been listed on Nasdaq OMX Stockholm since 2000. During 2010, Eniro’s revenues amounted to SEK 5,326 M and EBITDA was
SEK 605 M. Headquarters are located in Stockholm, Sweden. More on Eniro at www.eniro.com