Sign In

Search Press
Looking for press releases of a particular company? Enter company name (or keyword) here.


Varetis AG sells business unit "DA-solutions"

Munich, November, 2nd, 2005 - Today, Varetis AG has signed an agreement to sell its subsidiary Varetis Solutions GmbH to an affiliate of the US telecommunications and information service provider Volt Information Sciences Inc. (NYSE: VOL). The purchase price amounts to Euro 20.8 millions. The sale is subject to approval by the shareholders' meeting of Varetis AG and the purchaser's board of directors. Now, Varetis AG will focus completely on its consumer services: the Internet directory service GoYellow and the telephone directory services of its subsidiary Telix AG.

In the first nine months of the current business year 2005 Varetis AG (the divested business unit included) realized a turnover of Euro 15.1 millions (30.09.2004: 11.6 mio.). On September, 30, 2005, the result before interest and taxes (EBIT) adds up to minus Euro 16 millions (30.09.2004: -1.8 mio.).

The revenues of the subsidiary's sales will be used for the further market positioning of the Internet portal GoYellow and the telephony services. The intended offering of a bearer bond issue will therefore not take place.

Publisher Contact Information:

varetis AG
+49 (0)89 45566-186

Company profile of varetis AG
Past press releases of varetis AG.


Tech investments
From our Online Data Service
VC-backed companies
From our Radar

Recent Deals

Nov 25€24.0MInternet commerce
May 30€15.0MBiopharmaceuticals
May 28€15.0MDiagnostics
May 28€1.3MInternet services
May 25€1.0MOther Software
May 22N/AInternet services
May 20€4.3MArtificial Intelligence

For information on Europe's most extensive database on technology funding click here!


Press Releases

May 28
identiq raises $5m seed, launches privacy-first identity validation...

Apr 29
nethone raised over $1 million from innovation nest

Mar 31
the fit allocates chf 100'000 to comppair technologies

Jan 29
yumpingo raises $10m to transform guest experiences in restaurants

Oct 1
The Link App
the link app launches version 2.0

About usContact usLegal Information
Copyright 1999-2019
Emerging Technology Research Europe Inc. All rights reserved.