Ecommerce Alliance Plc acquires majority shareholding in Shirtinator AG / E-commerce specialist on course for further expansion Munich, 17 June 2010. Ecommerce Alliance plc (formerly getmobile plc), quoted on the Entry Standard of the Frankfurt Stock Exchange (WKN: A0QZ0E) has increased its shareholding in Shirtinator AG from 37 percent to approximately 57 per cent. No statement has been released with regard to the price paid for the shares.
The majority shareholding is a continuation of the company’s strategic expansion in the growing e-commerce market. Shirtinator AG specialises in the printing of high-quality textiles and accessories, especially T-shirts. Customers can simply and conveniently design their own personal and unique garment online with the assurance of prompt home delivery.
“Ecommerce Alliance has been involved as a shareholder in Shirtinator AG since February 2009. Since then, Shirtinator has enjoyed the sales and marketing support of getperformance GmbH, one of our wholly owned subsidiaries. This, along with the excellent work of the Shirtinator team, has secured a very good foothold in the market. “Combining forces will help us build a new customer base and provide a comprehensive service in the future”, says Daniel Wild, CEO of Ecommerce Alliance.
“Both companies will profit from a close link. The majority shareholding in Shirtinator AG will strengthen our position in the mass customisation market. Shirtinator AG’s rapidly expanding and profitable business represents an important contribution to our strategy of expansion and there will be significant scope for further development in association with other Ecommerce Alliance enterprises” adds Tim Schwenke, Executive Director and Head of M&A at Ecommerce Alliance.
Sven Rittau, co-founder of Zooplus AG and CEO of Shirtinator AG, added: “To have Ecommerce Alliance as a strategic shareholder was a timely development in 2009. The collaboration with Ecommerce Alliance allowed us to exceed our Business Plan expectations. We will now be able to pursue this successful course on a consistent basis in the future”.
