Nextag Acquires Leading German Comparison Shopping Site, Guenstiger.de GmbHBy Nextag Inc, PRNE
Monday, April 25, 2011
Acquisition Accelerates Nextag's Growth and Global Reach in Europe and Continues Company's Transformation Into the Ultimate Product for Online Shoppers and Value-Added Partner for Merchants
SAN MATEO, California, April 26, 2011 - Nextag, (Nextag.com), a leading comparison shopping website for products
and services, today announced the acquisition of Germany's Guenstiger.de
GmbH, the leading provider of online comparison shopping services in Europe's
largest market. Guenstiger provides shoppers in six countries with a rich
user experience and valuable product information, including reviews,
recommendations, and local product availability, to help users make easy and
"Over the past 10 years, Guenstiger has placed a premium on building an
outstanding user experience and market leading brand in the German market and
other countries. Consequently, Guenstiger has an extremely loyal user base
and a reputation as one of the most authoritative and trusted comparison
shopping sites in Europe," said Jeffrey Katz, Chief Executive Officer of
Nextag. "By joining forces with Guenstiger, we will quickly accelerate our
growth internationally, diversify our traffic sources and deliver a shopping
experience that consumers love and merchants value. We are also delighted
that Guenstiger's managing directors, Philipp Hartmann, Aske Magdalinski, and
Torsten Schnoor, will join Nextag's senior team and continue leading
Guenstiger after the closing of the transaction. This is a significant
victory for Nextag."
"The purchase of Guenstiger by Nextag is a great validation of what we
have built in Germany," said Aske Magdalinski, Managing Director of
Guenstiger. "By combining our talents in brand building and user experience
design with Nextag's unsurpassed skills in traffic generation and
monetization, we will create a company that is uniquely well positioned for
future growth and expansion."
This acquisition marks the most significant strategic transaction for
Nextag to date. During the past nine months, Nextag has also acquired Wize,
Inc., a product review and recommendations site, and NextCoupons.com, a
coupon site. These acquisitions are part of a broad growth plan, which also
includes strategic hiring, technology development and global expansion.
Nextag will purchase Guenstiger with a combination of cash and stock.
Other transaction details have not been released and the transaction is
subject to approval by regulatory agencies. Going forward, Guenstiger will
maintain its leading brands and continue to be led by its current management
team. While Guenstiger is expected to run independently, the two companies
will work closely to leverage each other's capabilities going forward.
Nextag is the ultimate resource for online shoppers, offering a fun,
reliable and expansive browsing experience for everything from toys to travel
plans. Our best-in-class search technology and proven expertise ensure that
all of our 30 million+ monthly customers find the products, prices and
information they need, when and where they need them. Nextag operates
comparison shopping sites in the US (Nextag.com), the UK (Nextag.co.uk),
France (Nextag.fr), Germany (Nextag.de), Spain (Nextag.es), Italy
(Nextag.it), Australia (Nextag.com.au), Japan (Nextag.co.jp), and Canada
(Nextag.ca). Nextag is headquartered in San Mateo, California with offices in
Chicago, London, Tokyo and Gurgaon, India.
Guenstiger.de GmbH is a leading price comparison service for products in
the area of telecommunications, computers, consumer electronics household and
leisure goods. Consumers use Guenstiger's brands to easily and quickly
compare products and prices of thousands of online merchants and offline
retail shops throughout Germany. Guenstiger also operates websites in
Hungary, Switzerland, Austria, Poland and Russia.
Contact: Joshua Weinberg The Digital Life Consulting Group joshua@DLifegroup.com +1-415-777-3339
Tags: April 26, california, Germany, Nextag Inc, San mateo