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Scandinavia Online Acquires DinSide

Scandinavia Online (SOL) has reached an agreement letter of intent to acquire the Norwegian site DinSide ("your page").

During the last two years DinSide, a net based publisher, has focused on cars, computing, travel and financial advising for individuals.

"Scandinavia Online will, through the acquiring of DinSide, enforce its position as a leading content supplier in the Nordic area. The profile of DinSide suites fit well into the strategy of Scandinavian Online," says Kristin Skogen Lund, manager of SOL in Norway.

The concept of the DinSide site will be introduced into the network of SOL portals in all Nordic counties.

The payment will be made with 1,800,000 of its own stocks of SOL, that is on its way to creating an IPO in June this year.

Today, SOL is owned by the state controlled telcos and ISP Telenor in Norway, Telia in Sweden and the media company Schibsted.

Scandinavia Online is one of the leading portal networks in the Nordic region with over 3 million unique users per month. The network consists of portals in Norway (sol.no, kvasir.no), Sweden (passagen.se, evreka.com), Denmark (sol.dk, kvasir.dk) and Finland (sirkus.com, evreka.fi). It includes interest-specific channels, a large number of functions for Web-based communities and communication, sophisticated search capabilities and integrated online shopping in the Danish, Finnish, Norwegian and Swedish languages.

Scandinavia Online's goal is to become a leading new media and communication company in Europe. To obtain this position, the company will have to create an IPO and use its noted stock to purchase new companies and sites.