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LivingSocial acquires international deal site Ensogo Inc.
Berlin, 27 June 2011. LivingSocial, the online source for handpicked experiences at a great value, announced it has acquired Ensogo, the market-leading deal site in the Philippines and Thailand and DealKeren, an Ensogo company based in Indonesia. Officially launched in the Philippines one year ago (July 2010), Ensogo is recognized as a social site were daily promos are featured to save while enjoying the perks.
Providing exclusive advisory services to Ensogo’s shareholders, Corporate Finance Partners – now ACXIT Capital Partners – advised its first transaction in the South East Asian Market. “We are very pleased to again have executed a significant cross-border transaction and to establish a presence in the South East Asian region.” said Jens Munk, former managing director of Corporate Finance Partners.
Ensogo is known as Thailand’s No. 1 social shopping website and currently serves more than 700,000 members. It continues to gain massive popularity and trust among Asian consumers as the market share leader, and Ensogo’s members have saved more than 450 million baht ($14.7 million USD) in the past year. Ensogo is backed by Rebate Networks, a leading international VC specializing in the social commerce space.
Terms of the deals were not released.
About Ensogo Inc.
Ensogo, the market leader in Thailand and the Philippines, offers daily deals from 50% to 90% off the best things to do, see, eat, and buy around the Philippines and Thailand. Deals may also be shared through e-mail, facebook and twitter. Ensogo was launched in 2009 in Thailand and after a successful year Ensogo expanded into the Philippines in July 2010. Ensogo enables businesses to promote their products, services, and brand online through offering attractive deals available for a limited time. (www.ensogo.com)
LivingSocial adds surprise to every calendar with handpicked daily deals you can share with friends. Members enjoy at least 50% off on the coolest, local experiences. Local business owners get an easy and cost effective marketing tool to attract new, loyal customers. In 2010, one of the fastest growing companies expanded with LivingSocial Escapes offering easy weekend trips at great value. In April, LivingSocial has unveiled Instant Deals – real-time, mobile offerings delivered via members smart phones featuring deals within 0.5 miles of their location. Based in Washington, DC, the international brand and has saved nearly 30 million subscribers more than half a billion dollars in 21 countries on 6 continents. (www.livingsocial.com)
About ACXIT Capital Partners
ACXIT Capital Partners is a leading international corporate finance and investment advisory firm for mid-market clients and entrepreneurs in Europe and beyond. Since 1998, we offer our clients comprehensive corporate finance advisory services including M&A and capital markets advisory as well as restructuring, debt and strategic advisory. As an independent, privately owned firm we maintain offices in Frankfurt, Berlin, Munich, Zurich, Vienna and Hong Kong as well as strong alliances in China, India and the USA.
To date, we have completed more than 350 transactions with a total deal/financing volume of approx. EUR 17bn. Our clients are corporations, family-owned businesses, entrepreneurs, financial sponsors and family offices. While our home market is in the German speaking region, most clients are international and transactions cross-border. (www.acxit.com)
ACXIT Capital Holding GmbH
60323 Frankfurt am Main
Dr. Ingmar Ackermann, Managing Partner