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UNITED ONLINE COMPLETES SALE OF STAYFRIENDS
Frankfurt, 25 May 2016. United Online, Inc. (NASDAQ: UNTD) (“United Online” or “the Company”), a leading provider of consumer services and products over the Internet, announced on May 24, 2016 that it has completed the sale of the stock of its wholly-owned subsidiaries comprising the StayFriends’ business, the Company’s European websites for social networking services, to Ströer SE & Co. KGaA (DE: SAX) (“Ströer”), a leading provider of out-of-home and online advertising services based in Germany, for a total cash consideration of 16.0 million euros. The parties received German antitrust regulatory approval for the StayFriends transaction on May 13, 2016.
“This completed transaction is the culmination of a competitive and thorough process conducted with the assistance of ACXIT Capital Partners to maximize the value of StayFriends. Our Board of Directors concluded that Ströer offered the superior value-creating alternative for our shareholders,” commented Jeff Goldstein, Interim Chief Executive Officer of United Online.
StayFriends includes five international websites in Germany, Sweden, Austria and Switzerland (www.stayfriends.de, www.stayfriends.se, www.stayfriends.at and www.stayfriends.ch, respectively), and Trombi in France (www.trombi.com).
ACXIT Capital Partners acted as exclusive financial advisor to United Online Inc. in this transaction.
ABOUT United Online
United Online, through its operating subsidiaries, provides consumer subscription services and products, consisting of internet access services and devices, including dial-up, mobile broadband, DSL, e-mail, internet security, and web hosting services, under the NetZero and Juno brands. United Online, Inc. (NASDAQ:UNTD) is headquartered in Woodland Hills, CA, USA. (www.unitedonline.net)
Ströer SE & Co. KGaA is a leading multi-channel media company, and offers its advertising customers individualized and fully integrated premium communication solutions. In the field of digital media, Ströer is setting forward-looking standards for innovation and quality in Europe
and is opening up new opportunities for targeted customer contact for its advertisers. Ströer SE & Co. KGaA is one of the largest providers of outdoor and online advertising in Europe as measured by sales. (www.stroeer.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
Christian Ramme, Executive Director
Philipp H. Seeck, Associate