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NHST Media Group increases ownership in Mynewsdesk AB

Press release   •   Mar 21, 2013 12:02 UTC

NHST Media Group has today signed an agreement to purchase an additional 1,723,960 shares in Mynewsdesk AB, amounting to 30.52% of the total share capital of the company. After this NHST Media Group has an ownership share of 87.02% in Mynewsdesk AB. An offer is outstanding on the remaining shares in the company.

Mynewsdesk offers all companies and organizations the opportunity to create their own newsroom and is a platform for effective direct communication. The company is a market leader in Sweden and has expanded to the other Nordic countries, the UK and Singapore. Since NHST Media Group bought a majority of the shares in 2008 Mynewsdesk has been the fastest growing company in the Group and has increased its revenues tenfold, with average annual growth above 50%. The business is now part of the business area Direct Relations along with ddp direct GmbH in Germany.

Peter Ingman is the CEO of Mynewsdesk and continues in this role.

The price paid for the shares is SEK 55.7 million, reflecting an enterprise value for Mynewsdesk AB of SEK 182.5 million.

In 2012, Mynewsdesk had revenues of NOK 85,6 million and an operating result of SEK 1,6 million (following a change in the revenue recognition policy in 2012, that negatively affects reported revenues and operating result for the year).

NHST Media Group had 2012 revenues of NOK 1200.0 million and an operating result of NOK 44.0 million.

Contacts:

Gunnar Bjørkavåg, Group CEO, NHST Media Group, +47 9003 1029

Andreas Emblem, Head of Division, Direct Relations / Corp Dev, NHST Media Group, +47 9325 6068

Peter Ingman, CEO, Mynewsdesk, +46 7052 94179

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