Download Dada signs the agreements for the disposal of Blogo

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Press release in accordance with CONSOB Regulation No. 11971/1999 and subsequent amendments
Dada signs the agreements for the
disposal of Blogo
Florence, January 1 7, 2 01 1 – Dada announces that today agreements were signed
to sell 100% of the share capital of E-Box S.r.l., owner of the vertical blog network
Blogo, to Populis Ltd. for a total consideration of €6 million. The transaction is in
line with Dada’s previously announced strategy to focus on its core business.
The Dada Group’s current 70% stake in E-Box is the result of two separate
transactions - the first took place in February 2007 when 30% was purchased by
Dada.net S.p.A. for €0.7 million and the second in July 2008 when Dada S.p.A.
acquired another 40% for €1.6 million. The Dada Group will collect a total of €4.2
million from the sale and realize a capital gain of approximately €2 million.
Based on the agreements, the sale price is to be paid on closing, which is scheduled
for February 2011. A portion of the proceeds will be deposited in an escrow account
and used to service the usual representations and warrantees.
E-Box estimates that FY 2010 revenues will reach approximately €2.1 million, with
an Ebitda of approximately €-0.3 million.
***
Dada S.p.A. (dada.dada.net) is an international leader in web and mobile based Digital Music,
Entertainment & On-line Gaming services, as well as professional services for online presence and
advertising. Dada has 2 business divisions - Dada.net (Digital Music, Entertainment & On-line Gaming),
Dada.pro (domain and hosting services and advanced online advertising solutions) – and is listed on the
Star segment of the Italian Stock Exchange (DA.MI).
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For additional information:
Nicoletta Pinoia
Investor Relations Dada
Tel 02/54027790 - [email protected]
Chiara Rivella
External Relations Dada
Tel 02/54027718 - [email protected]
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