Ecommerce Alliance AG (ISIN DE000A12UK08) sells their minority holdings of 4% in InterNations GmbH to XING AG. The Munich-based InterNations is with its over 2.7 million members in 390 cities around the globe the largest network and information portal for people living outside their native country. The world’s most successful community for so-called “expats” (expatriates) offers comprehensive information about living and working abroad, as well as plenty of networking opportunities and most importantly: the possibility for personal exchange at more than 50,000 events and leisuretime activities, which are attended by 1.5 million people around the globe each year. XING is the leading social network platform for professional contacts with currently over 12 million members in the German-speaking region.
These two highest growth German networks are now joining together. The transaction is based on a basic purchase price for 100 percent of InterNations shares at a value of around 10 million euro. InterNations will continue as a self-sufficient business unit under its existing brand. While XING AG will continue to focus on the German-speaking home market, InterNations has had a distinct international emphasis since its founding in 2007.
I was one of the founding partners of XING in 2003 and am very excited that XING has taken on InterNations. XING AG, which is listed in TecDAX, has been a success for 14 years. InterNations with its wealth of international experience and know-how in terms of offline events is a perfect partner for XING and will allow quick expansions and developments with regards to offers and services for professionals nationally and internationally”, explains Daniel Wild, CEO of Ecommerce Alliance AG. The sale is further proof of the strategic foresight of Ecommerce Alliance AG: “We got involved in InterNations very early, because we recognised the huge potential that increased digital networking would offer individuals. Professional and private cross-border contacts and communication – direct and supported by innovative technology – these are important issues in people’s everyday lives. After the sales of MYBESTBRANDS, The Native Media Inc. and now InterNations, our planned three to four enterprise sales during the current fiscal year have already been completed. We are not just after making a quick profit. All the framework conditions must be right as well. This latest deal is also proof of the fact that the environment in Germany for profitable exits – in any aspect – is right and very much alive. We want to take advantage of that and continue with our strategy”, says Daniel Wild.
