With the acquisition, Swedish Headquartered Getupdated, becomes one of the world largest Search Engine Marketing companies
Stock Market First North, Initials: EAST B
Getupdated Internet Marketing AB (public) has signed a letter of intent to acquire one of England´s leading Search Engine Marketing companies, Just Search Ltd for 115 million Swedish Crowns and a earn out based on the profit for 2008 and 2009.
Just Search is one United Kingdom´s leading search engine marketing companies. Search Engines are the fastest growing and most important area within internet marketing. With this acquisition Getupdated international expansion takes a huge step forward; plus it increases its strength and capacity towards a higher competence within SEO throughout the English speaking market.
-With the acquisition of Just Search we become one of the largest players within search engine optimization in the world, said Mattias Kaneteg, CEO and founder of Getupdated Internet Marketing. We also become one of the few providers which can offer large International Corporation’s world based traffic with the search engines; an area which is in high demand from our clients.
Just Search has offices in England, Australia, USA and France. During the last year the company had a growth of 100% with 40% margins. The company is forecasted to turnover 5, 5 millions GBP-Great British Pounds and a profit generation of 3 million GBP-Great British Pounds.
The high margins are achieved due to yearly contract based agreements. Just Search has a stable client based stock with a 90% contract renewal. The company will be integrated within Getupdated’s operations in England, USA and France.
- We are one of Great Britain’s leading providers for search engine marketing said Paul Yates, CEO and together with his brother Justin Yates, both founder of Just Search Ltd. Together with Getupdated competence and broad coverage in internet marketing, our competitive advantage is complemented. We can now offer our clients a wider and more global portfolio.
Getupdated has had an aggressive growth strategy; this includes the acquisition of 12 corporations during the year 2007. The integration of these new operations has been successful and the result is already showing with an increase in the sales channel. The Getupdated Group has experienced a phenomenal growth of 300 % by which two third parts are organic growth during the year 2007. The company’s goal is to be established on 12 International markets by 2009. The company’s vision is to become one of the leading complete providers of Internet Marketing in the world.
- Internet has become the most important advertising channel for companies and organizations to be able to reach out to potential clients said Mattias Kaneteg. In an increasingly globalized world, for a company to be able to find its target market you need more than a high placement in a search engine, you also need user friendly and high usability website, which covers the needs and demands that the users require. Getupdated offers services for the entire internet chain. With the acquisition of Just Search Ltd our customers can now get access to higher potential business and web traffic from the entire English speaking market.
Earn out rate went up to 115 million SEK and will be divided in two payments. 90 million SEK will be entry payment and 25 million SEK after a period of 12 months. Earn out rate is based on year’s 2008 and 2009 whereby profit is also included. Within shortly an additional shareholder meeting is taking place concerning the implementation of a new matters regarding financing the acquisition of Just Search. November 14, 2007 will be the goal date for entry.
