OPEN Business Club AG:OPEN Business Club AG acquires Neurona, the Spanish market leader for online business networking
2007-06-22 10:04:02.0
OPEN Business Club AG / Acquisition Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Hamburg, June 22, 2007 – OPEN Business Club AG (ISIN: DE000XNG8888), operator of the international networking platform XING (www.xing.com), has acquired a 100% interest in Neurona (www.neurona.com), the largest contact network for business professionals in Spain and Latin America with over 835,000 members. Until the takeover, Neurona was operated by the Spanish company 'Grupo Intercom Factory, S.L.' which is involved in projects in the fields of technology and online business in Spain and holds numerous active participations in other Internet firms. The purchase of Neurona coupled with the takeover of eConozco in March 2007 means that the Spanish market is now the second key market – besides the German-speaking world – where OPEN Business Club AG has secured clear market leadership over its global competitors. Members currently use Neurona free-of-charge. With integration into the XING Web site, OPEN Business Club AG nevertheless expects existing Neurona members to become increasingly willing to pay for the comprehensive functionalities of XING Premium Membership. The multilingualism of Neurona — the site is available in Spanish, Italian and English — coupled with the wide base of active members in Spain and Latin America are positive factors in the planned integration onto the XING platform. Ferran Aznar, Managing Director and Co-Founder of Neurona, will manage Neurona operations as a subsidiary company of OPEN Business Club AG in the interim working with a team of eleven employees, and assume responsibility for Neurona’s role in the integration. The actual integration on to the XING platform is scheduled to begin at the end of 2007 and is expected to be completed within a twelve-month period. All parties involved in the acquisition have agreed not to disclose financial terms of the transaction. Cautionary note regarding forward-looking statements This press release notice contains forward-looking statements concerning the operations, business development, membership growth and financial results of OPEN Business Club AG and/or the industry in which the Company operates. These forward-looking statements are generally indicated by terms such as 'estimate', 'anticipate', 'expect', 'assume', 'intend', 'predict', 'plan', 'strive', 'should', 'could', 'would', 'will' and similar phrasing. Forward-looking statements contained in this press release, including assumptions, estimates and opinions by the Company or information provided by third parties, are based on the current plans, estimates, assumptions and forecasts, and may entail uncertainties and risks. A variety of different factors could lead to actual results, trends and conditions that differ significantly from the forward-looking statements contained in this press release. The Company does not assume any liability for this eventuality and cannot guarantee that the information upon which the forward-looking statements are based is correct and complete, nor is the Company, its subsidiaries and affiliated companies liable for the future correctness of the statements outlined in this press release. Information and statistics from external sources should not be interpreted as information and statistics that have been verified by the Company. The Company, its subsidiaries and affiliated companies are not obliged to update any forward-looking statements. --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: About XING: XING makes your professional network an active part of your life. Far more than a directory of business contacts, XING enables its members to discover professional people, opportunities and privileges through its unique discovery capability and advanced contact management tools. With the successful IPO of XING in December 2006 as the first Web 2.0 company to go public, OPEN Business Club AG has had a long-term impact on the social networking trend amongst professionals. By focusing on the target group 'business people worldwide', the company is able to offer tailored features, thereby making networking and contact management simpler. Besides Headquarters in Hamburg, XING AG is represented by offices in Barcelona (eConozco), Beijing and Zurich. Daniela Hinrichs VP Corporate Communications Gänsemarkt 43 20354 Hamburg Tel. +49 40 419131-19 Fax +49 40 419131-11 DGAP 22.06.2007 ---------------------------------------------------------------------- Language: English Issuer: OPEN Business Club AG Gänsemarkt 43 20354 Hamburg Deutschland Phone: +49 (0)40 419 131-10 Fax: +49 (0)40 419 131-11 E-mail: investor-relations@xing.com Internet: www.xing.com ISIN: DE000XNG8888 WKN: XNG888 Indices: Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, Düsseldorf, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------------- |
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