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Xing AG to Acquire kunuru GmbH


Tuesday, 8 Jan 2013 06:10am EST 

Xing AG announced that it plans to acquire kununu GmbH, the Austrian-based operator of the platform for employer reviews in German-speaking countries, with economic effect from January 1, 2013. A corresponding purchase agreement between XING AG and the kununu GmbH partners will be signed on January 8, 2013. Initially, XING AG will pay the partners around EUR 3.6 million upon signature of the contract. Based on a number of factors, in particular kununu GmbH's revenue and EBITDA development over the course of 2013 and 2014, further payments totaling around EUR 5.8 million may be made by February 2015. 

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