Milan, Florence - October 12, 2009 - Dada, international leader in Community and Entertainment services via web and mobile and in Domain, Hosting and advanced on-line Advertising solutions, today signed agreements for the acquisition of 100% of
Fueps S.p.A..
On June 26, 2009, as announced to the market, Dada signed agreements for the purchase of the 51% held by RCS Digital. Subsequently, having established the conditions to acquire the entire share capital of Fueps through one single operation (the 51% held by RCS Digital and the remaining 49% held by the Digital Bros Group) and in light of the future development opportunities in the skill games sector, Dada considered it opportune to acquire the entire share capital and therefore full operational control of the company.
The operation seeks to step up the Dada Group's entrance into the casual & skill games market and at the same time create important synergies with the Dada Group's Community and Entertainment services.
The transaction, which provides for the acquisition by Dada S.p.A. of the 51% share in Fueps held by RCS Digital and the 49% held by Digital Bros Group, was thus completed today with a total of Euro 1.70 million paid to the sellers in proportion to their respective holdings. A maximum earn-out of Euro 0.9 million comprising 12.5% of the Ebitda recorded in the Fueps S.p.A. financial statements for the years 2010 - 2014 inclusive will also be paid to each seller.
For further information on Fueps, reference should be made to the press release of June 26.