EANS-News: freenet AG freenet Group acquires Gravis and becomes one of Apple's
biggest partners in Germany
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Mergers - Acquisitions - Takeovers
Büdelsdorf (euro adhoc) - freenet Group acquires Gravis and becomes one of
Apple's biggest partners in Germany
- Strategic portfolio optimisation through leveraging of multiple sales
synergies
- Expansion of the digital lifestyle range with high-quality Apple lifestyle
products in mobilcom-debitel shops
- Strengthening of the mobile communications and mobile internet business in the
28 Gravis stores
Büdelsdorf, 18 December 2012 - The freenet Group is expanding its strategic
portfolio with the acquisition of Gravis - Computervertriebsgesellschaft mbH,
strengthening its sales force in the sector of high-quality lifestyle products
for mobile devices.
mobilcom-debitel GmbH today signed a contract to purchase all shares in Gravis -
Computervertriebsgesellschaft mbH, Berlin. The transaction is pending the usual
regulatory approvals and is expected to close at the beginning of 2013. The
purchase price was not disclosed. The EBITDA multiple underlying the transaction
is well below the multiple which is currently used for freenet AG's valuation on
the stock market.
Gravis was established in 1988 and positioned itself as a digital lifestyle
provider early on with the introduction of the iMac in 1998 and the iPod in
2001. In the 1990s, it successfully expanded its network of branches and became
one of the leading resellers of Apple products in Europe. In 2000 Gravis
received the "Worldwide Best Apple-Store" award, and since the introduction of
the iPhone and iPad it has also become an established provider of mobile
communications devices.
In October 2011, freenet AG had agreed an exclusive collaboration with Gravis
regarding the marketing of its subsidiary mobilcom-debitel Shop GmbH's mobile
range and of Apple products. "The systematic expansion of our range of
high-quality Apple lifestyle products for mobile communications and the mobile
internet across all sales channels ideally complements our strategic development
into a true digital lifestyle provider," says Christoph Vilanek, CEO of freenet
AG. "At the same time we are planning to gradually start selling our existing
digital lifestyle products in the energy, mobile services and service products
sector through Gravis." The planned expansion of the mobile communications
business in the Gravis stores will be carried out by directly transferring
know-how from mobilcom-debitel Shop GmbH.
"The transaction contributes ideally to strengthening the high-margin business
on which we have focused in line with our value-driven management," adds Joachim
Preisig, CFO of freenet AG.
Gravis is Germany's only nationwide Apple retailer, and commands 14 percent of
the German Apple retail market. The company also operates a significant online
business.
Further inquiry note:
freenet AG
Investor Relations
Tel.: +49 (0)40 513 06-778
E-Mail: ir@freenet.ag
end of announcement euro adhoc
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company: freenet AG
Hollerstraße 126
D-24782 Büdelsdorf
phone: +49 (0)4331 691000
mail: ir@freenet.ag
WWW: http://www.freenet-group.de
sector: Telecommunications
ISIN: DE000A0Z2ZZ5
indexes: Midcap Market Index, TecDAX, CDAX, HDAX, Prime All Share,
Technology All Share
stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
Stuttgart, regulated dealing/prime standard: Frankfurt
language: English