XING AG completed the acquisition of kununu GmbH from TheMediaLab, Vinzenz Treytl, Florens Eblinger as well as co-founders Martin and Mark Poreda.
January 08, 2013 at 09:30 am IST
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XING AG (XTRA:O1BC) acquired kununu GmbH from TheMediaLab, Vinzenz Treytl, Florens Eblinger as well as co-founders Martin and Mark Poreda for €9.4 million on January 8, 2013. XING will pay the sellers €3.6 million upon signature of the contract. Based on a number of factors, in particular kununu GmbH's revenue and EBITDA development over the course of 2013 and 2014, further payments totaling €5.8 million may be made by February 2015. As per the terms of the deal, kununu founders Martin and Mark Poreda will stay as the company's Managing Directors. There will also be no changes made to the kununu brand or portal. kununu employs 30 people, all of whom will retain their jobs.
Christian Stuppnig, Christian Temmel and Maximilian Jacob of DLA Piper Weiss-Tessbach Rechtsanwa Lte GmbH and Matthias Lupp and Sebastian Decker of DLA Piper Germany acted as legal advisors for XING. GP Bullhound Limited acted as the financial advisor to kununu in the transaction. Altium Capital Limited acted as financial advisor to XING AG. Thomas Schirmer, Markus Uitz of Binder Grösswang and Marcus Pickel of Wilmer Hale acted as legal advisors to founders Martin and Mark Poreda. DLA Piper received a fee of €0.37 million.
XING AG (XTRA:O1BC) completed the acquisition of kununu GmbH from TheMediaLab, Vinzenz Treytl, Florens Eblinger as well as co-founders Martin and Mark Poreda on January 8, 2013.
New Work SE, formerly Xing SE, is a Germany-based operator of a social network for business professionals in German-speaking countries. The platform, XING, allows professionals from all kinds of different industries to meet up, find jobs, colleagues, new assignments, cooperation partners, experts and generate business ideas. The Company operates through four segments: The B2C segment involves all of the XING platformâs basic features , such us contact management, news, jobs and a number of XINGâs mobile applications, the B2B E-Recruiting segment offers tools and solutions that able companies to find employees and talent; the Marketing Solutions & Events segment offers organizers targeted event promotions and ad formats companies can use to promote their business within a professional environment, and the kununu International segment enables candidates and employees to learn about and rate companies and potential employers. The Company has offices in Europe and the United States.
NEW WORK SE 
