News
09.12.2009
CAM Media S.A. takes up the majority of shares in Ad-Vice
On 8th December 2009, CAM Media S.A. took up 55% of shares in the internet advertising network Ad-Vice Sp. z o.o. for PLN 3.2 million.
On 8th December 2009, CAM Media S.A. took up 55% of shares in the internet advertising network Ad-Vice Sp. z o.o. for PLN 3.2 million.
On 8th December, the management of CAM Media S.A. completed negotiations concerning purchase of a controlling block of shares in Ad-Vice (www.advice.pl) and signed an investment contract with its then-owners, Xevin Investments s.a.r.l. of Luxemburg and Bartosz Wieczorek, President of the Board of Ad-Vice Sp. z o.o. This transaction is the beginning of a partnership between CAM Media S.A. and Xevin Investments s.a.r.l. concerning the development of Ad-Vice and its products.
CAM Media S.A. paid PLN 3.2 million for 55% of shares in Ad-Vice. Over the next three years, the new owner will purchase subsequent blocks of shares in the acquired company. In 2010 this will be 23% of shares and the remaining 22% in 2011 and 2012. The price for individual blocks of shares will be dependent on the level of net profit made by Ad-Vice.
Ad-Vice is a dynamically developing online advertising network. It has been operating on the market since 2007 and is distinguished by an approx. 100% sales growth dynamic. Since its formation it has continually been profitable. Ad-Vice’s 2007 sales level reached above PLN 2.4 million, whereas in 2008 its sales level achieved a level of over PLN 4.9 million. From January to the end of October, Ad-Vice’s sales level reached PLN 3.4 million and net profit for this period amounted to over PLN 0.41 million.
On 8th December, the management of CAM Media S.A. completed negotiations concerning purchase of a controlling block of shares in Ad-Vice (www.advice.pl) and signed an investment contract with its then-owners, Xevin Investments s.a.r.l. of Luxemburg and Bartosz Wieczorek, President of the Board of Ad-Vice Sp. z o.o. This transaction is the beginning of a partnership between CAM Media S.A. and Xevin Investments s.a.r.l. concerning the development of Ad-Vice and its products.
CAM Media S.A. paid PLN 3.2 million for 55% of shares in Ad-Vice. Over the next three years, the new owner will purchase subsequent blocks of shares in the acquired company. In 2010 this will be 23% of shares and the remaining 22% in 2011 and 2012. The price for individual blocks of shares will be dependent on the level of net profit made by Ad-Vice.
Ad-Vice is a dynamically developing online advertising network. It has been operating on the market since 2007 and is distinguished by an approx. 100% sales growth dynamic. Since its formation it has continually been profitable. Ad-Vice’s 2007 sales level reached above PLN 2.4 million, whereas in 2008 its sales level achieved a level of over PLN 4.9 million. From January to the end of October, Ad-Vice’s sales level reached PLN 3.4 million and net profit for this period amounted to over PLN 0.41 million.