Axel Springer Digital has signed an agreement to acquire allesklar.com AG, which operates the meinestadt.de portal, as part of its strategy to grow online classifieds business.
The local portal, meinestadrt.de, provides extensive information on more than 11,000 German cities and towns; the company is being sold by the founding Stegger family (56.1 percent) and by Holtzbrinck Digital Strategy (43.9 percent).
Founded in 1996, the Siegburg-based allesklar.com employs about 300 people. Its meinestadt.de portal, which lists regional content, job offers, real estate, and general classifieds, claims more than eight million unique users a month.
Allesklar.com's founder and Chief Executive Manfred Stegger is to leave the company and will be succeeded by Axel Springer's premium content director Georg Konjovic.
Axel Springer AG is one of the largest multimedia companies in Europe, with more than 11,500 employees and with annual revenues of about €2.9 billion. The company has over 230 newspapers and magazines, more than 80 online offerings as well as holdings in television and radio stations.
In March of this year, Axel Springer AG and the global growth investor General Atlantic agreed to set up Axel Springer Digital Classifieds GmbH. The partnership is currently composed of European online jobs portal StepStone, along with the French and German real estate portals SeLoger and Immonet.