German Internet service provider United Internet AG said on Friday it may float its business offering web-hosting and other online services to corporate customers to fund an acquisition drive.

“Separate access to the capital market and Applications shares as an additional acquisition currency would make it easier to fund takeovers from equity,” Chief Executive Ralph Dommermuth said in a statement.

United Internet also said that it agreed to buy Polish web-hosting firm home.pl from investors led by private equity fund V4C Eastern Europe for 135 million euros ($150 million) in cash to expand its footprint in the eastern European country.

The group has been investing in consumer Internet and technology businesses, buying stakes in companies like venture capital group Rocket Internet and cable group Versatel.

It has also taken over web-hosting groups like InterNetX, Sedo and fasthosts in recent years.

If the company decides to go ahead with an initial public offering (IPO) of the Business Applications division, it would launch the flotation in about two years, United Internet said.

It said it expects the division to generate about 600 million euros of sales this year. By comparison, it sees group sales reaching around 3.7 billion euros.

(Reporting by Maria Sheahan; Editing by Gopakumar Warrier)

This entry passed through the Full-Text RSS service – if this is your content and you’re reading it on someone else’s site, please read the FAQ at fivefilters.org/content-only/faq.php#publishers.

Related Posts

Facebook Comments

Return to Top ▲Return to Top ▲