EANS-News: AdLINK Group finalizes realignment
Montabaur (euro adhoc) -
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Board of Directors (Appointments and Changes)/Company Information
After the sale of its display marketing unit AdLINK Media to Hi-media, the AdLINK Group finalizes its realignment.
Following the concentration on the two performance-based online marketing businesses affilinet and Sedo, the management and supervisory board of AdLINK Group decided to buy the remaining 24.06% of Sedo GmbH from the founders for 4.25 million newly issued shares and EUR 5.5 million in cash. Additionally, AdLINK Group sells its shares in the display marketing companies Hi-media and Goldbach Media to United Internet. The proceedings of EUR 45.1 million will be used to reduce the financial debt. In addition the AdLINK Group expects to receive extraordinary income of around EUR 12.7 million from the sale of the two investments.
The company will also be renamed in order to reflect the new strategy. The change and the new name will be finally decided by the annual shareholder meeting in 2010.
Following the new focus, management will change: Stephane Cordier and Marc Stilke will resign as members of the management board as per end of September. Tim Schumacher, Managing Director of Sedo, and Alexander Röthinger, CTO of affilinet, will be appointed respectively as new CEO and CTO for AdLINK Group. Together with the CFO Andreas Janssen, they will constitute the management board of the company.
"On behalf of the supervisory board, I would like to thank Mr. Cordier and Mr. Stilke for the longstanding, successful and trustful cooperation, the high degree of personal commitment and exceptional contribution for the company. Under their management AdLINK Group has become one of Europe´s leading suppliers of digital marketing. affilinet has grown from a start up to a leading and profitable affiliate network in Europe with presence in 5 markets. Sedo has become the global leader for domain trading and parking," says Michael Scheeren, chairman of the supervisory board of AdLINK group. "With Tim Schumacher, founder and MD of Sedo, and Alexander Röthinger, longstanding CTO of affilinet, two experienced managers step up which are familiar with the business models of AdLINK group," continues Scheeren.
Further inquiry note:
Marcus Schaps
Head of PR
AdLINK Internet Media AG
Elgendorfer Straße 57
56410 Montabaur
Germany
Phone: +49 (0) 2602 96-1319
Fax: +49 (0) 2602 96-1013
presse@adlinkgroup.net
Branche: Online
ISIN: DE0005490155
WKN: 549015
Index: TecDAX, Prime All Share, Technologie All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade