ToLuna Buys German Panel

European online panel provider ToLuna has acquired German panel company Speedfacts, a subsidiary of the major ISP Freenet, for a total consideration of £2.06m. It has also agreed a five-year strategic co-operation agreement with Freenet, giving it access to 7 million potential panellists.

The entire issued share capital of Speedfacts is being acquired from its three current owners - Freenet, Dutch financial investor Isila BV and the company's founder and MD Boris von Heesen - for £1.91m in cash plus 146,588 new ordinary shares in ToLuna, the latter valued at approximately £0.15m.

Speedfacts (Speedfacts Gesellschaft für Online Research mbH) was founded in 2000 and has always worked closely with its majority shareholder Freenet (freenet.de AG), recruiting its 57,000 current active panellists from the ISP's 7 million members. ToLuna's existing panels include c.750,000 members in 13 countries in Europe.

Unaudited Speedfacts management accounts for the eleven months to 30 November 2005, show turnover of Euros 891,000 and a profit before taxation of Euros 360,000, steeply up on the previous year's (audited) figures of Euros 438,000 and Euros 87,000. The acquisition is expected to be earnings enhancing for ToLuna immediately.

ToLuna Chief Exec Frederic-Charles Petit says the acquisition 'gets the new year off to a flying start. Apart from being immediately positive for earnings, it is a big step in our strategy of covering the major European markets, giving us an immediate considerable presence in Germany together with an important co-operation with Freenet, one of Germany's leading online service providers.'

Von Heesen, who remains MD of the new group entity for Germany, says 'We are thrilled of the opportunity to join forces with ToLuna and to participate in building European momentum in this exciting industry.'

ToLuna operates across Europe with existing offices in London and Paris. It will keep the staff of Speedfacts and says it is planning to create new jobs in Frankfurt on Main within the next two years. It is online at www.toluna.com.

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.