Media Investment Group Buys Poolworks Ltd., Former VZnet Netzwerke Ltd. From Holtzbrinck Digital
BERLIN, September 11, 2012 /PRNewswire/ --
Poolworks Ltd., operator of the three popular social platforms studiVZ, meinVZ and schuelerVZ, has been sold from Holtzbrinck Digital to Vert Capital Corp. an international investment organization. The transaction closed today with Vert Capital Corp. acquiring all shares of the organization but leaving an option to use schuelerVZ in the hands of Holtzbrinck Digital.
Vert Capital, a private merchant bank and digital media fund with ownership across a variety of digital properties, will add Poolworks Ltd. to its growing portfolio of social media and entertainment holdings division. The acquiring organization will continue to operate the platforms and the new owners will likely increase the features and functions of the social platform for its members.
Beside obtaining an option to use schuelerVZ, the technology center Devbliss, which was carved-out from Poolworks and successfully started in May 2012, remains a subsidiary of Holtzbrinck Digital and will be further developed , serving as an IT-Provider for digital projects across the group Georg von Holtzbrinck.
"VZ's youth appeal combined with its still solid user base and well regarded position in Germany, makes today's acquisition an attractive opportunity that marries well with our broader investment objectives. We have some strong initial ideas for refocusing and reinvigorating the VZ platforms and feel confident that by bringing our deep and diverse experience to bear we can achieve great things," said Jason Thonis, spokesperson for the buyers.
Markus Schunk, Managing Director of Holtzbrinck Digital said: "We are happy to have Vert Capital as an appropriate buyer for Poolworks in times when the international consolidation process in the area of Social Networks is intense. For the German speaking platforms of studiVZ and meinVZ this is an exciting international perspective and means an extension of services to the users. The right to furthermore provide the target audience of schuelerVZ with relevant and interesting services beyond the existing offering is of strategic interest for Holtzbrinck Digital, especially for offerings in the educational environment."
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SOURCE Holtzbrinck Digital GmbH