Press Release |
ClickandBuy Becomes Wholly-Owned Deutsche Telekom Subsidiary
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LONDON, Mar 24 (MARKET WIRE) -- ClickandBuy / ClickandBuy becomes wholly-owned Deutsche Telekom subsidiary processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. DTAG acquires internet payment service provider ClickandBuy London/New York/Zug/Bonn, 24 March 2010. The internet payment service provider ClickandBuy is to become a wholly-owned subsidiary of Deutsche Telekom AG. Via its venture capital company, T-Venture, Deutsche Telekom has held shares in ClickandBuy since 2006 and currently owns 20.2 per cent of its shares. Deutsche Telekom has now acquired all remaining shares in the internet payment service provider ClickandBuy. The agreement was finalized yesterday. The supervisory bodies of the companies concerned and the UK's Financial Services Authority (FSA) have already approved the process. Klaus Konrad, Investment Director of Intel Capital: "ClickandBuy has become one of the top three online payment providers in the world and is a European investment success story.This shows that even in challenging economic periods, it is possible to grow top performing organizations through great management and the right investment strategy." ClickandBuy's CEO, Charles Fraenkl, welcomed the deal: "Our minority shareholders T-Venture and Intel Capital with their dedication and commitment have contributed a lot to the success and growth of ClickandBuy.With the support of our new shareholder, ClickandBuy, already one of today's leading providers of online payment solutions, will continue to strengthen and expand its market position in the future. ClickandBuy is in an exceptionally good position and is very happy about the huge advantages this synergy contains regarding the realisation of its global strategic goals which will be made possible through the involvement of Deutsche Telekom." About ClickandBuy ClickandBuy is one of the leading payment services in the internet.Certified by McAfee and tested by Germany's Technical Inspection and Testing Association (TUV), this online payment system is used for internet purchases by over 13 million people. Having doubled its turnover generated by traders and end customers to EUR 922 million (TTV) in 2008, the ClickandBuy Group first crossed the billion euro threshold in 2009. Over 16.000 online traders use ClickandBuy's e-payment system for their e-commerce, retail, online entertainment, and paid content & services billing, including Deutsche Telekom, Scout24 Group, Apple iTunes, Napster, Orange, msn, AOL, Meetic, Parship, Electronic Arts (EA), Codemasters, McAfee, Panda, RTL, Playboy, Financial Times Deutschland, Foto.com, Deutsche Boerse Group, KPMG, Yamaha, Digital River, Redcoon, bonprix (Otto Group). Founded in 1999, ClickandBuy represents over 10 years of experience and expertise in the e-payment market. The online payment system is operated by ClickandBuy International Ltd. in London. As an e-money institution licensed by the UK's Financial Services Authority (FSA), ClickandBuy's complete service includes 120 currencies and offers 50 national and international modes of payment throughout 31 countries. [HUG#1397372] ClickandBuy - Media Contacts UK - Rob Gibbons *Email Contact * +44 (0) 7989 302 287 * www.ClickandBuy.com USA - Stuart Ginsberg *Email Contact * +1 (917) 374-3788 * www.ClickandBuy.com ClickandBuy International Ltd. * Lincoln House 137 / 143 Hammersmith Road * W14 0QL London * Copyright 2010, Market Wire, All rights reserved. -0-