EuroSeek first European portal to integrate internet access with consumer services and e-commerce

EuroSeek first European portal to integrate internet access with consumer services and e-commerce In a series of sweeping acquisitions, major European portal and search engine EuroSeek acquires stakes in content and internet access companies Sharelook, Tjohoo, Infranet and room33. This is a milestone in 39-language EuroSeek's strategy to combine its pan-European consumer portal, search engine and consumer e-commerce initiatives with a multiplatform access network of broadband-, mobile- and modem Internet services. Being able to integrate access with content services and e-commerce everywhere, at all times, makes EuroSeek unique in Europe, providing a solid platform for further growth from present substantial 28 million monthly visits. -Controlling the complete chain from consumer internet access to multilocal content, service providers and e-commerce in 39 languages makes us unique in Europe. These acquisitions will give us increased revenues and accelerated growth, short term, as well as creating leverage for the long term business development, says Bengt Hellsten, Chairman of EuroSeek. The acquisitions are an important milestone in our strategy to become a leading Internet multimedia company for Europe by creating increased customer value through integrating cutting edge access technology with comprehensive local internet services. Content acquisitions In acquiring a majority stake (51%) in Sharelook, the European portal for local content, EuroSeek penetrates deeper into the local markets of Germany, Austria, Switzerland, Belguim, France and Italy. Expansion plans also include Spain and Hungary. In addition, EuroSeek acquires 91% of the Swedish local portal Tjohoo and 50% of Halo, the meteorology site as well as 75% of EuroLocal, a portal specialised in regional and local public authorities/institutions. -The business rationale for these deals follows our clear expansion strategy to gain local traffic, content and partnerships in all European countries, speeding up EuroSeek's local business development" says Claes Jernbeck, Senior VP Business Development at EuroSeek. -Partnering with Sharelook's co-owners, media company Verlag Hans Müller, will also provide editorial content to the portal and give us an edge over competitors in these markets. Access acquisitions -By acquiring Infranet (100%) we can now offer broad band Internet access in order to establish closer consumer relationships earlier in the value chain and take a strong position in the broadband development. We will now be able to offer internet access and services via modem, mobile phones or broadband. Infranet is the cornerstone in EuroSeek's access offering, initially in Sweden, with plans for a rapid expansion into the rest of Europe, says Bengt Hellsten. EuroSeek has also acquired 26% of room33 (formerly Palm Reach), the virtual meeting place for users of mobile internet services. EuroSeeks strategy for this acquisition is to develop mobile Internet services (initially WAP) and a WAP-portal to channel these services. Peter de Verdier, Senior VP Marketing & Sales at EuroSeek explains: -With room33, EuroSeek is right at the cutting edge of commercially utilising the full potential of new mobile Internet technology and strengthening our consumer relationships, offering them Internet access and services wherever they are and at all times. For more information about EuroSeek, please contact: Bengt Hellsten, Chairman on +46 70 370 50 55, or bengt.hellsten@euroseek.net Claes Jernbeck, Senior VP - Business Development on +46 70 647 87 52, or claes.jernbeck@euroseek.net Peter de Verdier, Senior VP - Marketing & Sales on +46 70 20 90 670, or peter.deverdier@euroseek.net EuroSeek (www.euroseek.com) offers the leading European fully local Internet search engine and uniquely integrated portal services, consumer e-commerce and Internet multi-platform access. EuroSeek localises the consumer interface and content in 39 languages, providing reasonably priced Internet connections, infotainment, and e-commerce for all Europeans quickly and securely, and with unrivalled availability. Based in Stockholm, Sweden, EuroSeek employs 100 staff and has a monthly portal traffic of 28 million visitors and 109 million page-exposures. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/03/13/20000626BIT00770/bit0001.doc http://www.bit.se/bitonline/2000/03/13/20000626BIT00770/bit0002.pdf