RealTime IT News

Zoomit.com Acquires Dutch Buyers' Guide

[London, ENGLAND] European shopping portal Zoomit.com announced Tuesday that it has acquired the Dutch operations of Koopwijzer BV, including a product database and a comparison shopping service.

Founded in September last year, Koopwijzer.nl has become one of the most popular interactive buyers' guides in the Netherlands. It not only compares prices but also lets customers share opinions and read consumer test results.

Zoomit's Chief Executive Johan Dolven, who is based at the group's Norwegian headquarters, said the acquisition would establish a strong presence for Zoomit in the Netherlands.

"In addition to helping people find the best price, we can also help them to find the best product. That really adds value!" said Dolven.

Zoomit will pay for its acquisition in shares. However, no details of the share exchange agreement were revealed.

Zoomit says it plans to implement the product information service gradually, extending it from the Netherlands to other European countries. It will create an English version to serve all of Europe, followed by other versions in eight languages during the fall this year.

Since its launch in 1997 by Mogul.com founder Per Siljubergsaasen, and Excite.com programmer William Klippgen, Zoomit has added services in other parts of Scandinavia and announced its pan-European ambitions.

In February 2000, Zoomit secured over US $12 million in financing. Shareholders in the company include the Norwegian Venture Capital firm Kistefos, two UK based funds, plus the founders and employees.

Zoomit offers real-time price comparison from more than 400 shops which deliver in Europe, together with product information on over 6,000 products over 45 categories. Its shopping guide lists more than 2,500 European stores.