Press release
Red Media have bought online advertising company A+Online for an undisclosed sum, expanding their online portfolio
Edinburgh, 5 June 2007 – Red Media have today announced the successful acquisition of media company A+Online for an undisclosed sum.The news comes only weeks after Red Media publicly declared an interest in obtaining A+Online in an asset-buyout. After much negotiation, A+Online was bought in its entirety from its private owners, and subsumed within the Red Media corporate structure.
A+Online, the company behind www.convertiblehire.com were estimated to hold assets worth in excess of $12 million, making them significantly smaller than their parent company. Despite this, Red Media maintain the quality of the assets, coupled with A+Online's powerful media branding made them an attractive choice.
Red Media Corporate Strategy director Jennifer Douglas-Cave has heralded the purchase as a step towards achieving the company's overarching aims: "We are delighted with the acquisition of A+Online. We agreed on terms that we felt were very beneficial for the long-term growth of Red Media, and I only hope we can continue to build on A+Online's efforts in the coming years".
The move will expand the reach of Red Media, allowing them to provide a more diverse advertising portfolio for large-scale clients.
A+Online projects like www.convertiblehire.com will be left to run their natural course without significant intervention, in an attempt to gauge the natural lifecycle of Red Media's newly acquired assets, as part of a longer-term strategy for asset development.
With the increase in portfolio, it is estimated that Red Media will see a 3% growth in ad impressions over the coming year.
About Red Media:
Red Media are a holding company, focusing primarily on developing and maintaining media assets. Based in the UK, Red Media have holdings in a diverse portfolio of online and traditional media channels, including www.convertiblehire.com in the online arena.
Professional, tailored solutions for web design, eCommerce, SEO, using the most advanced techniqurs
Red Enterprises Limited
10 Taymouth Road
Gilston Park, Polmont
Stirlingshire
United Kingdom
FK2 0PG
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