11880 Solutions AG

  • WKN: 511880
  • ISIN: DE0005118806
  • Land: Deutschland

Nachricht vom 26.08.2020 | 13:14

11880 Solutions AG ignites next stage of growth and acquires Fairrank GmbH to enable rapid expansion of market position

DGAP-News: 11880 Solutions AG / Key word(s): Takeover
26.08.2020 / 13:14
The issuer is solely responsible for the content of this announcement.

Essen, 26 August 2020 - 11880 Solutions AG intends to acquire Fairrank GmbH as part of the capital increase from authorised capital in return for cash and non-cash contributions announced today. Fairrank, a Cologne-based online marketing agency, supports clients from various industries in search engine marketing, web development and social media activities. By acquiring Fairrank, 11880 Solutions AG is expanding its portfolio in strategically important areas and accelerating the successful growth of the past years.

Christian Maar, CEO of 11880 Solutions AG, commented: "We have been looking for an acquisition target of this kind for a long time because we want to grow quickly and become Germany's number 1 for providing online marketing services to businesses. Fairrank is a perfect fit for us. There are no overlaps whatsoever, but rather many synergies that we will quickly leverage to create value. Fairrank's customer base is primarily made up of medium-sized enterprises and complements our customer structure very well. This will enable us to provide online marketing services to small and larger companies even more efficiently than before. We will also be gaining stature as a major player in our partnerships with Google and Microsoft. In addition, we will save considerable costs by pooling resources and automating production and processes."

The capital increase announced today will see the Company's main shareholder united vertical media GmbH contribute Fairrank GmbH as a non-cash contribution for 2,707,200 new shares representing its equity stake of 72.28 percent. Fairrank GmbH was founded in 2004 and employs around 60 people. Integrating the company's operations into 11880 Solutions AG should be completed by the end of 2021.




Contact:
Anja Meyer
11880 Solutions AG
Tel.: 0201 / 8099-188
E-Mail: anja.meyer@11880.com


26.08.2020 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.
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