Divestment of Hoppenstedt Publishing to WEKA group closed
Bisnode has closed the divestment of its subsidiary Hoppenstedt Publishing to the German publishing group WEKA. Both companies had signed an agreement on April 27th, but the sale was subject of approval from the relevant competition authorities. After the approval was granted, Bisnode and WEKA today closed the transaction which is effective retroactively as of January 1st, 2012.
Hoppenstedt Publishing publishes a range of trade magazines and books on subjects such as industry and automation, laboratory and life sciences, plastics, handling and logistics to the German market. The magazine titles are SCOPE, engine, handling, LABO, MTA Dialog, Kunststoff Magazin, CAD-CAM Report and eDM Report . Hoppenstedt Publishing has 39 employees and is located in Darmstadt. In 2011 the company posted a revenue of EUR 7.6 million.
“Hoppenstedt Publishing offers trade magazines and books in a mostly advertisement based business model, which has limited synergies with our other operations. Therefore, the sale is inline with Bisnodes general strategy to focus on development and growth of its core business,” says Lars Pettersson, CEO of Bisnode. ”WEKA is a leading publisher of trade magazines in Europe and has shown great interest in further developing the magazines and the employees, so we think we have found a great new home for them.”
Fredrik Åkerman, CFO and Business Area Director Product Information
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