yesterday Mail.ru Group and UCP announced the deal, which resulted in the Group acquired 100% of the largest social networking site you’ll ever need « in contact”. Mail.ru Group bought out the UCP 48,01% of social network for $ 1.47 billion, estimating, so all « In Touch “$ 3 billion. Total since 2007 Mail.ru Group has spent on the purchase of « In Touch “$ 2.07 billion, according to its report. After the appearance of the news value of GDR Mail.ru Group on the London Stock Exchange rose 6.7% to $ 32 per share. Closed Trades at $ 30 per receipt.
The whole deal Mail.ru Group paid cash. The group used all the means at its funds in the accounts ?? $ 885 million ( at the end of the II quarter of 2014, there were even less ?? $ 706 million) and drew a four-credit Gazprombank to 22.2 billion rubles. ( $ 585 million) by 11.5% per annum. Mail.ru Group has spent almost all of their funds, leaving only a small margin, says a person close to the group. However, he hopes for a speedy completion of the accounts, since the fall of Internet companies traditionally sell a lot of advertising.
UCP became co-owner « in contact “in the spring of 2013, bought 48% in the former partners of the company founder Paul Durov ?? Vyacheslav and Lev Leviev Mirilashvili. Amount of the transaction was not disclosed, but a person familiar with its members, said « Vedomosti” that it amounted to $ 0.9 billion . If so, UCP could earn on an investment in the « In Touch” $ 570 million.
Yesterday’s deal completes the three-year feud between the owners « In touch».
In 2011, the CEO of Mail .ru Group Dmitry Grishin for the first time admitted that the group, then owned a 40% « in contact”, would like to consolidate the company as a whole . The band even discussed the possibility of buying 48% in Mirilashvili and Leviev, but strongly opposed to such a deal was Durov. In the end, the main shareholder of Mail.ru Group ?? Alisher Usmanov sided with him and even allowed Durov in some cases vote on the Board of Directors of packets belonging to a group.
Leviev and Mirilashvili continued to seek a buyer for its packages and spring 2013 agreed to a deal with UCP. This marked the beginning of a new conflict. This time united Mail.ru Group and Durov indignant that the transaction was made without their knowledge, as co-owners of « In Touch” had an option to purchase. UCP assured that the transaction is legitimate: the fund is not redeemed shares in the company « in contact” and the companies that own these packages? ? Blesmir Development Ltd. and Palagon Ltd. In turn, UCP accused Durov that he being the CEO « in contact”, developed his own parallel project ?? messenger Telegram.
The case went to court ?? Fund demanded that Durov gave Telegram « in contact”, and in the meantime he bought out the partner Durov Axel Neff three American companies, which was incorporated part of the assets of the developer Telegram. This deal Durov challenged in court in New York.
Yesterday’s deal put an end to all litigation between the UCP, Mail.ru Group and Durov: the parties agreed to the withdrawal of all mutual claims. In addition, UCP returns Durov three companies purchased from Neff reported Mail.ru Group. UCP partner Victoria Lazareva said that the fund « satisfied with the transaction and confirms the full settlement of disputes and dismissal of Claims».
Strategic obvious meaning of the transaction, said Grishin: monthly audience of Mail.ru Group around the world suddenly increases to 92 million users ( Comscore data for July 2014). Russian audience of all projects Mail.ru Group, excluding « in contact” in July was, according to TNS, 60,5 млн users. In addition, the group will now consolidate the financial performance of « In Touch”: last year completed a social network from 3.8 billion rubles. revenue and 53 million rubles. net income, and the first half of 2014 ?? from $ 2 billion and 248 million rubles. respectively. About 50% of revenue « In Touch” earns from advertising, the rest ?? user fees. Revenue itself Mail.ru Group in the first half of the year amounted to 15.1 billion rubles., Including advertising ?? 4.7 billion rubles.
In terms of size and quality of audience acquisition « in contact”? ? a great event for Mail.ru Group, agrees CEO IMHO VI Maxim Osipov. Together with a network of Mail.ru Group receives a huge amount of advertising inventory ?? hundreds of millions of hits. In addition, due to the « in contact” group significantly expands the reach of young Internet users, which is important for advertisers.
Reporting for the first six months, the group reduced the revenue forecast for 2014 and reported a sharp drop in revenue from display advertising in the II quarter ?? by 10% YoY. The company relied on a complex geopolitical situation in the country, due to which advertisers behave conservatively.
Plus Mail.ru Group receives Russia’s largest mobile Internet platform, which is very important ?? because users are increasingly surf the Internet from mobile devices continues Osipov from IMHO VI. Finally, « In Touch” knows a lot about their users and Mail.ru Group will be able to use this information for the monetization services, he concludes .
According to the Association of Communication Agencies of Russia, in the first half of 2014 sales of display advertising in runet increased by 3% compared to a year ago. Sale banners fell by 8%, and video advertising ?? increased by 50%, estimated Osipov.
Videoadvertising ?? the only growing market segment of media advertising, and « In Touch” ?? the largest marketplace for the sale of video advertising, said an employee of a major investment bank. The second largest social network you’ll ever need ?? « Classmates” and did not become perceived by users as a serious video resource , and she Mail.ru Group long ignored the potential of video advertising, he states. The acquisition of the largest and more practically monetized videoploschadki in Russian Mail.ru Group provides a huge opportunity in terms of income generation of video: successful advertising sales in the YouTube prove that in this segment has great potential, concludes the source « Gazette».
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