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.
Speaking on behalf of the Management Board at TOMORROW FOCUS AG, Christoph Schuh said the management buy-out was “an excellent solution that would support the further strategic development of Cellular GmbH. Birger Veit and Roman Kocholl have led Cellular successfully since its formation, with the result that it is now extremely well positioned for the future. They have established a particularly strong management record in terms of innovation, long-term customer retention and willingness to adapt. We would like to say a big thank you to the management team and the whole workforce, and we wish them every success in the future.”
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.
The Travel segment includes HOLIDAYCHECK AG, which operates a number of hotel review and travel booking portals by the same name; the travel division of WEBASSETS B.V., which operates the ZOOVER hotel review portals; and TOMORROW TRAVEL B.V., which operates the Dutch online travel agent TJINGO.
The Subscription segment is made up of ELITEMEDIANET GmbH, which operates the premium online dating agency ELITEPARTNER.de; JAMEDA GmbH, which operates the physician ratings portal JAMEDA.de; and ORGANIZE.ME GmbH, which operates an app-based document organisation and reminder system.
The Publishing segment includes TOMORROW FOCUS MEDIA GmbH, one of Germany’s leading digital marketing providers; TOMORROW FOCUS PUBLISHING GmbH, which operates a number of Internet portals such as the news and utility journalism site FOCUS Online; the news portal and platform for views and blogs THE HUFFINGTON POST; the finance and stock market information portal FINANZEN100; the parent portal NETMOMS; and the meteorological arm of WEBASSETS B.V., which operates the METEOVISTA and WEERONLINE weather portals.