FRANCE - IDI- and BV Capital-backed Hi-Media acquires AdLINK

AdLINK Media, which is valued at EUR 29.4m, will be transferred to Hi-Media net of any cash and of all debt. The transfer will consist of 9,940,000 newly created shares in consideration for a portion of AdLINK Media shares, 795,000 existing shares currently held by the Hi-Media group, plus a deferred payment in the form of a EUR 12.2m vendor loan. At the end of the transaction, AdLINK Internet Media will hold a 10.7% stake in Hi-Media group

Hi-Media is currently focused on Electronic and micro payment methods as well as internet advertising. The move will result in a strong value-added and is expected to generate cost synergies of approximately EUR 5m from combining the organisations and achieving economies of scale.

In September 2008, IDI upped its stake in Eurolist-B listed Hi-Media to 7.5% after taking 5% in an earlier financing round. Listed investor IDI initially provided the company with EUR 2.2m in November 2007 and then EUR 15m for a 5% stake in April 2008. Hi-Media has a market capitalisation of €150-200m.

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