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TOMORROW FOCUS AG sells subsidiary Cellular GmbH in management buy-out deal
TOMORROW FOCUS AG / Key word(s): Disposal Corporate News TOMORROW FOCUS AG sells subsidiary Cellular GmbH in management buy-out deal Munich, Germany, 24 November 2014 – TOMORROW FOCUS AG, one of Germany’s leading stock exchange-listed Internet groups, has sold its wholly-owned subsidiary CELLULAR GmbH, a full-service agency for the mobile Internet, apps and smart TV, to Cellular’s founders and managing directors Birger Veit und Roman Kocholl. The sale will be effective on 1 December 2014. The purchase price is subject to a confidentiality agreement. In line with its new strategic focus, TOMORROW FOCUS AG has chosen to concentrate on end-user business models (B2C) in its Travel, Publishing and Subscription segments, hence the decision to accept a buy-out offer from the managing directors of Cellular GmbH, which specialises in business customers. Cellular GmbH is based in Hamburg, Germany and Vienna, Austria. In the financial year 2013 its total revenue was around EUR 8 million. About TOMORROW FOCUS AG TOMORROW FOCUS AG (ISIN DE005495329) is based in Munich, Germany, and is one of the leading exchange-listed Internet groups in Germany. The Group has a workforce of around 750. On 1 January 2014, its business operations were restructured into three new segments: Travel, Publishing and Subscription. Media and Investor Relations contact: phone +49 (0)89 9250 1256 24.11.2014 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | TOMORROW FOCUS AG | |
Neumarkter Str. 61 | ||
81673 München | ||
Germany | ||
Phone: | +49 (0)89 9250-1256 | |
Fax: | +49 (0)89 9250-2403 | |
E-mail: | a.blohmann@tomorrow-focus.de | |
Internet: | www.tomorrow-focus.de | |
ISIN: | DE0005495329 | |
WKN: | 549532 | |
Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart | |
End of News | DGAP News-Service |
298721 24.11.2014 |