Mytaste Group Makes Strategic Acquisition in Norway
The agreement to acquire assets from Netpixel Media AS and Captana AS represents a significant expansion of the company’s personal finance vertical as well as the company’s international footprint
myTaste AB (publ) (”Mytaste Group”) has signed an agreement to acquire assets within online comparison of private loans, credit cards and coupons from Norwegian Netpixel Media AS and Captana AS. The assets consist partly of the website låne-penger.com, a comparison site for private loans and partly of a collaboration within lead generation for private loans, credit cards and coupons with the Norwegian online media outlet Nettavisen (nettavisen.no). The acquisitions further strengthen Mytaste Group’s position on the Nordic market for lead generation within consumer finance and coupons.
The initial purchase price, payable in conjunction with the acquisition of the assets, amounts to an upfront payment 20.75 MNOK, of which 14.083 MNOK is paid in cash and the remaining 6.667 MNOK is paid by newly issued shares in Mytaste Group, of which the number of shares is based on VWAP (Volume Weighted Average Price) for Mytaste Group’s shares during ten (10) trading days before closing date. Closing date is expected to be no later than 20 working days from current date. Further, there is an additional consideration based on the development of the assets during 12 months that may be paid of a maximum of 10.75 MNOK, of which 5.75 MNOK shall be paid in cash and the remainder in newly issued shares in Mytaste Group. For the sellers to receive maximum payout under the additional consideration the assets must generate a strong revenue growth over 12 months.
On the website låne-penger.com the consumer can review which private loans offer the best terms for their specific situation. With this help consumers can make educated decisions based on clear consumer information.
The partnership with Nettavisen named “Lånehjelpen” (nettavisen.no/forbrukslån, nettavisen.no/kredittkort) and ”Rabattkoder” (nettavisen.no/rabattkode) are going to be included in Mytaste Group’s B2B venture “Affilijet” and further expands the operations geographically in addition to strengthen the whole consumer finance vertical. Mytaste Group is, since 2018, operating Expressen Låneguiden (lånapengar.expressen.se) and Låneakuten in Sweden and will now be able to draw benefit from additional synergy effects within sales and business development.
“This acquisition is part of our strategy within the market for lead generation focused on private loans by which we take a strong position in the Norwegian market and further expand the portfolio for Affilijet through a partnership with one of the largest online news media sites in the Nordics.” says Andereas Friis, CEO and co-founder, Mytaste Group.
Låne-penger.com and the partnership with Nettavisen generated an estimated profit of 1.67 MNOK during Q4 2018.
This information is such information that myTaste AB (publ) is obliged to publish in accordance with the EU Market Abuse Regulation. The information was submitted, through the agency of the contact person below, for publication on 7 March 2019 at. 08:30 CET.
Media contact:
Andereas Friis
CEO / Founder myTaste AB (publ)
andereas.friis@mytaste.com
+46 (0) 739 944 670
About Mytaste Group
Mytaste Group is a digital media house that owns and operates a leading international advertising network as well as a number of digital products and services within performance-based marketing of e-commerce stores. Mytaste Group has two business areas: Mytaste Shopping and Mytaste Food & Beverage. The company is listed on Nasdaq First North Premier in Stockholm under the ticker "Taste".
Arctic Securities is the Company's Certified Adviser, telephone number: +46 8 44 68 60 87, e-mail: certifiedadviser@arctic.com.
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