|By Business Wire||
|July 14, 2014 04:35 AM EDT||
Ringier, Switzerland's leading international media enterprise, has agreed on a long-term relationship with KKR, a leading global investment firm. In the future, the two companies will work together to develop Ringier's Swiss digital businesses in the fields of online classifieds and marketing.
KKR will acquire 49 percent of the shares in each of Ringier Digital AG's subsidiaries Scout24 Schweiz AG and Omnimedia AG. Scout24 Schweiz AG comprises online marketplaces for motor vehicles (autoscout24.ch, motoscout24.ch) and real estate (immoscout24.ch) as well as the anibis.ch general classifieds marketplace.
AutoScout24 is the number one among Switzerland's online portals for new and used cars, while ImmoScout24 is the country's leading online real-estate platform and anibis.ch is the largest general classifieds marketplace. Through its various platforms, the Scout24 Group operates the most comprehensive Swiss network of online marketplaces. In aggregate, these platforms attract some 21 million visits each month. Omnimedia AG is one of Switzerland's leading digital marketing companies. In addition to offering its national and regional clients target-group-specific online advertising concepts, Omnimedia has exclusive marketing rights for Ringier's Swiss Scout24 platforms.
In the words of Marc Walder, Ringier AG's Chief Executive Officer, “As a family-owned company, we take great care in choosing our business partners. We are proud to be working with KKR, one of the world's leading investment firms that has a strong track record in the media and technology sectors, on the further development of our digital business. Today, Ringier already generates 30 percent of its revenues in this field. We aim to increase that share to 50 percent over the next three-to-four years.” Walder will be appointed Chairman of the Board of Directors of Scout24 Schweiz AG.
As Philipp Freise, Member and Head of the European Media & Digital investment team at KKR, explains, “The key objective of this investment is to put our entrepreneurial capital to work in this partnership with Ringier. We see significant potential in Scout24 Schweiz and Omnimedia. Both have established strong national positions in the attractive Swiss market. We look forward to working with Ringier to realize the full potential of these high-quality companies. KKR's global network of advisors and technology investment professionals will be a resource to the companies in that endeavour.”
KKR has comprehensive experience in digital media. The firm's most recent investments in this area include BMG Rights Management (a joint venture with Bertelsmann), Fotolia, ProSiebenSat.1, GoDaddy, InternetBrands and Mitchell International.
As an owner-managed investment firm, KKR already has a broad and substantial track record of successful collaborations with leading family-owned companies, both as a minority and a majority shareholder. KKR also utilizes its international network and financial expertise to support its partners in both strategic and operational matters. The investment in Scout24 Schweiz und Omnimedia is made by the KKR European Fund III.
In the years ahead, the goal is to further expand the very good market position the two companies have already established. Switzerland's online sector has substantial potential for growth when compared to international benchmarks. While online advertising accounts for a very low share of the overall advertising mix, Swiss consumers are avid users of broadband and mobile internet. Combined with substantial purchasing power and an innovation-oriented economy, these factors provide for a sound foundation for Ringier's digital growth strategy.
As Thomas Kaiser, Ringier AG's Chief Digital Officer, with management responsibility for the Ringier Digital division and member of Scout24 Schweiz AG’s Board of Directors, puts it, “The partnership with KKR provides our teams with an excellent opportunity to work with leading experts on accelerating the growth of the online marketplaces and to augment our leadership in the Swiss online classifieds market. We will be working with our existing successful management team on seizing this opportunity.”
In the words of Bob Bellack, co-founder of Cars.com and a future member of Scout24 Schweiz AG's Board of Directors, “The potential, which the Swiss online classifieds market offers, is fascinating. I am looking forward to working with the management team to apply leading best practices in online classifieds from the U.S. market to Scout24 Schweiz and Omnimedia. This will enable the companies to provide an ever better offering to their customers and users.”
This transaction is subject to customary regulatory approvals. Financial details are not being disclosed.
Ringier AG, Corporate Communications
The media release is available for download on:
www.ringier.com => Media => Press Releases
Ringier is a diversified media enterprise operating in 14 countries and employing some 7,500 people. Established in 1833, Ringier today operates media brands in the print, TV, radio, online and mobile arenas. The company also runs successful publishing, entertainment and internet businesses. Now in operation for more than 180 years, Ringier is noted for its pioneering spirit and individuality and is committed to independence, freedom of expression and diversity of information. Ringier is a Swiss family-owned company whose principal operations are located in Zurich.
Ringier Digital is a business division of Ringier AG. Its activities encompass digital marketplaces, e-commerce and digital marketing. Ringier Digital AG, whose registered offices are in Flamatt in the Swiss canton of Fribourg, is a wholly owned subsidiary of Ringier AG. Ringier Digital AG's participations in Scout24 Switzerland AG and Omnimedia AG are registered at its offices in Flamatt.
KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners' capital and brings opportunities to others through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE: KKR), please visit KKR's website at www.kkr.com.
SYS-CON Events announced today that Hanu Software will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Leveraging best-in-class people, processes, and technologies, Hanu provides high-quality, high-value software development and business process outsourcing services to independent software vendors (ISVs) and enterprises.
May. 25, 2016 09:00 AM EDT Reads: 1,227
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device. For more information, please visit https://www.mangoapps.com/.
May. 25, 2016 08:41 AM EDT Reads: 113
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
May. 25, 2016 07:15 AM EDT Reads: 1,121
Many banks and financial institutions are experimenting with containers in development environments, but when will they move into production? Containers are seen as the key to achieving the ultimate in information technology flexibility and agility. Containers work on both public and private clouds, and make it easy to build and deploy applications. The challenge for regulated industries is the cost and complexity of container security compliance. VM security compliance is already challenging, ...
May. 25, 2016 05:00 AM EDT Reads: 1,003
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, will discuss the importance of WebRTC and how it enables companies to fo...
May. 25, 2016 04:45 AM EDT Reads: 2,433
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
May. 25, 2016 04:45 AM EDT Reads: 846
SYS-CON Events announced today TechTarget has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. TechTarget is the Web’s leading destination for serious technology buyers researching and making enterprise technology decisions. Its extensive global networ...
May. 25, 2016 04:15 AM EDT Reads: 3,039
As cloud and storage projections continue to rise, the number of organizations moving to the cloud is escalating and it is clear cloud storage is here to stay. However, is it secure? Data is the lifeblood for government entities, countries, cloud service providers and enterprises alike and losing or exposing that data can have disastrous results. There are new concepts for data storage on the horizon that will deliver secure solutions for storing and moving sensitive data around the world. ...
May. 25, 2016 04:00 AM EDT Reads: 1,068
Korean Broadcasting System (KBS) will feature the upcoming 18th Cloud Expo | @ThingsExpo in a New York news documentary about the "New IT for the Future." The documentary will cover how big companies are transmitting or adopting the new IT for the future and will be filmed on the expo floor between June 7-June 9, 2016, at the Javits Center in New York City, New York. KBS has long been a leader in the development of the broadcasting culture of Korea. As the key public service broadcaster of Korea...
May. 25, 2016 04:00 AM EDT Reads: 1,701
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
May. 25, 2016 02:00 AM EDT Reads: 1,137
What a difference a year makes. Organizations aren’t just talking about IoT possibilities, it is now baked into their core business strategy. With IoT, billions of devices generating data from different companies on different networks around the globe need to interact. From efficiency to better customer insights to completely new business models, IoT will turn traditional business models upside down. In the new customer-centric age, the key to success is delivering critical services and apps wit...
May. 24, 2016 11:45 PM EDT Reads: 838
As machines are increasingly connected to the internet, it’s becoming easier to discover the numerous ways Industrial IoT (IIoT) is helping to shape the business world. This is exactly why we have decided to take a closer look at this pervasive movement and to examine the desire to connect more things! Now if you need a refresher on IIoT and how it is changing the world, take a moment and listen to Greg Gorbach with ARC Advisory Group. Gorbach believes, "IIoT will significantly change the worl...
May. 24, 2016 09:00 PM EDT Reads: 1,811
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
May. 24, 2016 08:45 PM EDT Reads: 985
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty ...
May. 24, 2016 06:00 PM EDT Reads: 4,670
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit y...
May. 24, 2016 05:00 PM EDT Reads: 1,859