GA-Axel Springer joint venture acquires Immoweb.be

The group bought 80% of the company's shares, leaving 20% with the Rousseaux family. Christophe Rousseaux will continue in his role as CEO of the business.

The company plans to pursue further growth. It will add to Axel Springer Digital Classifieds' existing portfolio of property portals including France's SeLoger, as well as Germany's Immonet and city portal meinestadt.de.

Axel Springer Digital Classifieds was formed in March this year in a bid to accelerate growth within the digital classifieds sector in Europe and emerging markets. The group is owned 70% by German media empire Axel Springer and 30% by global growth investor General Atlantic. Strategic acquisitions since its inception have included UK job portal Totaljobs and meinestadt.de.

Company
Immoweb.be was founded in Forest in 1996. The business is an online property portal that operates within Belgium and is used by around 2.4 million unique visitors a month.

People
Jörn Nikolay, principal and head of General Atlantic's German office, and Jens Müffelmann, head of Axel Springer's electronic media division, worked on the deal.

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• Topics
• Portfolio management
• Benelux
• Technology
• General Atlantic
• Belgium