Axel Springer has agreed to buy market researcher eMarketer at an enterprise value of about $250 million as the German publisher continues its push into digital businesses and English-speaking markets.
The German media group is paying $242 million for 93% of the shares in eMarketer, taking the company's cash and debt into account. Two of the founders will remain invested in and continue to lead the company, Axel Springer said in a statement Friday.
The eMarketer acquisition is the latest in a string of Axel Springer deals to win over readers in the U.S. and Britain and turn the publisher of the best-selling Bild tabloid into an operator of online news and classifieds portals. CEO Mathias Doepfner is pushing the publisher into English-speaking markets to drive growth after spending $343 million to buy online news site Business Insider in 2015.
"By acquiring EMarketer, Axel Springer also strengthens its paid content activities and supplements its existing business media," the company said.
-- Bloomberg News