EANS-News: freenet AG
freenet Group acquires Gravis and becomes one of Apple's
biggest partners in Germany
18.12.2012 – 19:42
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 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 -------------------------------------------------------------------------------- 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