Ringier Axel Springer Media AG, a joint venture founded by Swiss Ringier AG and German Axel Springer AG and one of the leading media companies in Central and Eastern Europe, has acquired through its Slovakian subsidiary a 70 percent stake in the provider of the Slovakian web portal AZET.SK. The horizontal internet portal AZET.SK operates a number of different websites and online services. Founded in 1997, the company reaches more than 75 percent of Slovakian internet users (approx. 1.9 million unique users) and is the country’s online market leader.
Florian Fels, CEO of Ringier Axel Springer Media AG: “With our stake in AZET.SK, we have instantly acquired a leading position in Slovakia’s online market, which is expected to grow by up to 25 percent over the coming years according to current forecasts. This portal with its wide range of content is an excellent fit with our strong media brands and products, as well as an ideal addition to our current portfolio in Slovakia. I am especially delighted that the existing management team with the four AZET founders will remain with AZET and support the ongoing process of innovation and digitalization launched by Ringier Axel Springer Media AG in Central and Eastern Europe.”
Milan Dubec, founder and CEO of AZET.SK: “In Ringier Axel Springer Media we have found the right partner for AZET with a strong interest in a strategic partnership. Our common goal is to continue expanding our online business and strengthen AZET’s market position. We are looking forward to this promising collaboration.”
In the current Deloitte ranking of the fastest growing technology companies in Central Europe, AZET.SK is in eighth place over all and in first place in Slovakia (Technology Fast 50 Central Europe 2010).
Switzerland, Zurich & Slovakia, Silinia
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