LYCOS Europe strengthens position in eCommerce business by acquisition of shopping specialist mentasys
(PresseBox) (Haarlem/Netherlands, )LYCOS Europe N.V. (ISIN NL000023319), one of Europe's leading portal providers and online advertisers, accelerates its strategic alignment as a leading provider of portal services and paid services & shopping solutions. In light of Europe's fast growing eCommerce arena, LYCOS Europe today announced the acquisition of the shopping solution specialist mentasys GmbH, Karlsruhe/Germany, for up to EUR 30.0 million in cash (including a variable performance-based component of up to EUR 14.0 million in the future).
The highly awarded mentasys technology for online guided selling solutions will be combined with LYCOS Europe's existing international shopping solution platform Pangora. The mentasys technology was amongst others awarded with the German Innovation Award, Seal of Excellence, German Internet Prize and others. It helps price comparison sites, online shops and portal partners to significantly increase their traffic and revenues. By connecting sales networks with intelligent product advisors, mentasys is able to offer retailers, manufacturers and portal operators a powerful package of guided selling measures which will now be combined with the LYCOS Europe shopping solution portfolio.
Once the transaction closes, LYCOS Europe will have double the eCommerce development capacities to set the pace for a higher rate of innovations. LYCOS Europe regards the transaction not only as a perfect move to leverage its competitiveness especially against international eCommerce players but moreover to play a major role for the future development of the eCommerce industry. The three founders of mentasys, Robin Schönbeck, Tim Stracke and Dirk Schwartz, will remain in the company with a staff of around 60 employees, which resulted 2004 from the merger of intertrade internet services with Mentasys. The transaction is subject to approval of the German Antitrust Authority.