HAMBURG, Germany--(BUSINESS WIRE)--Today, the Netrisk Group (“Netrisk”) and Bauer Media Group, announced the successful completion of the merger combining their Online Comparison Platform (OCP) businesses in Central and Eastern Europe (CEE). This transaction marks the creation of a leading OCP business across six countries in the CEE region, operating together as the Netrisk Group.
The expanded Netrisk Group will serve a larger and growing market for price comparison services with strong brands and leadership positions across Poland, Austria, Hungary, Czech, Slovakia and Lithuania. The combined Group, which will be led by Robert Sokolowski, current Netrisk CEO, now reaches approximately 80 million potential customers across CEE looking to save time and money.
The transaction has received all required regulatory approvals, establishing Bauer Media Group as a significant strategic partner to the Netrisk Group, with a substantial non-majority stake in the overall business. TA Associates (“TA”), Netrisk’s current majority investor, remains the controlling shareholder of the combined business, while MCI Capital retains a minority stake.
“This is an important partnership for Bauer. Together with Netrisk we have created a business of significant scale in Europe, bringing real benefits to customers and partners in some of the region’s fastest growing, innovative and competitive markets,” commented Paul Keenan, Bauer Media Group Chief Operating Officer.
“We are thrilled to welcome Bauer Media Group, represented by Paul Keenan and Vivian Mohr, to our shareholder group as we embark on this exciting journey,” said Robert Sokolowski, Netrisk Group CEO. “With this highly complementary merger, the Group is doubling in terms of revenues and Total Addressable Market (TAM), enabling us to deliver greater savings for our customers, and create an even more attractive workplace for our employees and partners. Given the trust and excellent collaboration shown so far, we are confident that together we can propel the company forward and offer customers unbeatable service and transparency.”
Financial terms of the transaction were not disclosed.
Bauer Media Group operates under separate brands in Spain (Acierto), Sweden, Norway and Finland (Zmarta).
ENDS
About the Netrisk Group
The Netrisk Group operates leading Internet portals for online comparisons concentrating on insurance in Central and Eastern Europe, serving millions of customers every year. On their websites, consumers can transparently compare the prices and services of insurance such as motor third party liability, comprehensive insurance, household, travel and life insurance. The Group strives to deliver savings to customers also by comparing banking, telecom and energy products. The group operates the following key platforms: Netrisk.hu and Biztositas.hu in Hungary, Klik and Porovnej24 in the Czech Republic, Netfinancie in Slovakia, Edrauda in Lithuania, and durchblicker in Austria.
About Bauer Media Group
Bauer Media Group has become an enduringly successful media corporation by focusing on creating content that matters to millions of people across Europe. Our offering spans print and online publishing to radio broadcasting and audio entertainment, price comparison services for consumers, as well as digital marketing services. Family-owned in the 5th generation, Bauer Media focuses on the long-term, with a consumer-first mindset that guides us across our increasingly diverse portfolio. Our workforce of 15,000 shares a purpose, to deliver content and services that enrich people‘s everyday lives. www.bauermedia.com
About TA Associates
TA is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its five target industries – technology, healthcare, financial services, consumer and business services. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $65 billion in capital to date and has over 150 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong. More information about TA can be found at www.ta.com.
About MCI Capital
MCI Capital is one of the largest technology investment funds in Central Europe with assets under management of PLN 2.8 billion (EUR 600 million). Since 1998, MCI has backed 104 companies and divested 68. The fund invests EUR 25 to 100 million in digital champions: in pure technology companies (disruptors), in companies undergoing digital transformation and in IT infrastructure. The fund was invested in Mall.cz (e-commerce, Czech Republic), WP.pl (digital media, Poland), Invia (e-Travel, CEE), Dotpay/eCard (fintech, Poland), iZettle (fintech, worldwide) and ATM SA (data centers, Europe). More information at https://mci.pl/en.
