Euroseek Acquires, Aspires to Be Multilingual, Multiplatform

In a series of sweeping acquisitions, the European portal and search engine
EuroSeek has acquired stakes in content
and internet access companies Sharelook, Tjohoo, Infranet
and room33.

This is a milestone in 39-language EuroSeek’s strategy to combine its
pan-European consumer portal, search engine and consumer e-commerce
initiatives with a multiplatform access networks including broadband, mobile and
modem Internet services.

“Controlling the complete chain from consumer internet access to multilocal
content, service providers and e-commerce in 39 languages makes us unique in
Europe. These acquisitions will give us increased revenues and accelerated
growth, short term, as well as creating leverage for the long term business
development,” says Bengt Hellsten, chairman
of EuroSeek.

“The acquisitions are an important milestone in our strategy to
become a leading Internet multimedia company for Europe by creating
increased customer value through integrating cutting edge access technology
with comprehensive local internet services.”

In acquiring a majority stake (51%) in Sharelook, the European portal for
local content, EuroSeek penetrates deeper into the local markets of Germany,
Austria, Switzerland, Belguim, France and Italy. Expansion plans also
include Spain and Hungary.

In addition, EuroSeek acquires 91% of the Swedish local portal Tjohoo and
50% of Halo, the meteorology site as well as 75% of EuroLocal, a portal specialised in regional and local public

Partnering with Sharelook’s co-owners, media company Verlag Hans M|ller,
will also provide editorial content to the portal and will give EuroSeek more

“By acquiring Infranet we can now offer broad band Internet access in
order to establish closer consumer relationships earlier in the value chain
and take a strong position in the broadband development. We will now be able
to offer Internet access and services via modem, mobile phones or broadband,” says Bengt Hellsten.

“Infranet is the cornerstone in EuroSeek’s access offering, initially in
Sweden, with plans for a rapid expansion into the rest of Europe.”

EuroSeek has also acquired 26% of room33 (formerly Palm Reach), the virtual
meeting place for users of mobile internet services. EuroSeeks strategy for
this acquisition is to develop mobile Internet services (initially WAP) and
a WAP-portal to channel these services.

Stockholm-based EuroSeek boasts 28 million visitors and over 100 million
page exposures. But lately EuroSeek’s Swedish traffic has decreased.

News Around the Web