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CDON.COM ACQUIRES 90 % OF ONLINE RETAILER NELLY.SE

Pressmeddelande   •   Aug 31, 2007 13:16 CEST

CDON AB (CDON.COM), the leading entertainment internet retailer in the Nordic region, today announced that it has signed an agreement to acquire 90 % of the issued share capital in the fast growing fashion retailer NLY Scandinavia AB (Nelly.se) for a total cash consideration of SEK 14.6 million.

Established in 2003, Nelly.se has grown to become one of Sweden’s leading fashion retailers on the internet. The acquisition is a link in CDON.COM’s growth strategy within online retailing.

Originally retailing lingerie, today Nelly.se has developed a broader fashion assortment with well known brands such as French Connection, DKNY, Calvin Klein, Dolce & Gabbana, Pepe Jeans, Day, Björn Borg and Svea. In the beginning of this year a male-fashion department was launched. Nelly.se currently targets fashion-minded Swedish 15–35 year olds and has approximately 40,000 registered customers. Nelly.se generated a 98% year on year revenue growth to SEK 10.7 (5.4) million for the twelve months ended 31 August 2006. The founders and management team will remain with the company, which currently employs seven full time employees.

Mikael Olander, CEO of CDON.COM, commented: “Nelly.se has an attractive and sought-after service, and it is one of the best known fast growing internet retailer brands in Sweden. This acquisition gives us a strong position in the fashion segment which we are convinced will be the next large growth segment on the internet. Nelly.se has a target group which corresponds to other MTG owned companies such as CDON.COM, TV3, TV6 and the internet community Playahead, offering substantial opportunities for synergy and operational benefits.”

“According to Ahrens Rapid Growth, CDON.COM was one of the ten fastest growing companies in 2006. This acquisition enables us to further capitalize on the experience and achievements of CDON.COM to continue building on Nelly’s success as the leading player in internet fashion retailing. Nelly has a strong expansion potential, both on the Swedish market and internationally“


Photos
Press images for editorial use are available at http://www.newsdesk.se/pressroom/cdon

Contact
For further information, please contact
Mikael Olander
CEO CDON.COM
E-mail: mikael.olander@cdon.com
Phone: +46 40 601 61 01, +46 736 99 28 81

CDON.COM in brief
CDON.COM is the largest online retailer of entertainment in the Nordic region. The company is fast growing and profitable (2006 turnover, 740 million SEK). The head office is located in Malmö, Sweden.

CDON.COM is wholly owned by Modern Times Group MTG AB, an international entertainment broadcasting group. MTG is the largest Free-to-air-TV and Pay-TV operator in Scandinavia and the Baltics and the largest shareholder in Russia's largest independent television network CTC Media, Inc. (NASDAQ: 'CTCM'). Viasat’s channels are distributed on the Viasat platform and in third party networks in 24 Nordic, Baltic and Eastern European countries and reach a 100 million people.

Modern Times Group MTG AB class A and B shares are listed on the OMX Nordic Exchange Large Cap market under the symbols ´MTGA´ and ´MTGB´.

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