The Romanian technology company 2Performant, listed on the BVB, concluded a preliminary agreement regarding the acquisition of the affiliate networks Profitshare.ro and Profitshare.bg, owned by Conversion Marketing S.R.L. and Conversion Marketing EOOD (“Profitshare Business Lines”). The agreement provides the principles of the transaction and is not legally binding, according to the announcement published on BVB. As part of the transaction, the company behind eMAG will become a 2Performant shareholder.
“The operation that is the subject of the aforementioned agreement consists in the transfer of the Profitshare Business Lines from Conversion Marketing S.R.L., respectively Conversion Marketing EOOD (as sellers) to 2Performant (as buyer). Dante International S.A. (majority associate of Conversion Marketing S.R.L.) will be a party to the business transfer contract, as guarantor. The transaction price is 4,307,000 RON and will be paid as follows: 55% in cash, at the time of completion of the transfer of the Profitshare Business Lines according to the business transfer contract (“Completion Date”) and 45% in shares in the share capital of 2Performant, through a share capital increase, the details of which will be published after the signing of the contract regarding the business transfer”, the announcement on the BVB states.
Dante International S.A. is the majority shareholder of eMAG, and the price payment receivables will be assigned by Conversion Marketing S.R.L. to Dante International S.A. “Dante International S.A. will become a shareholder of 2Performant as a result of the share capital increase. Dante International S.A. will assume, through the business transfer contract, the obligation not to sell the shares held in the share capital of 2Performant for a period of 1 year starting from the Completion Date”, reads the announcement published on BVB.
Profitshare was launched in 2012 and currently has a portfolio of 250 affiliate programs (including the eMAG group), in Romania and Bulgaria. The Profitshare.ro and Profitshare.bg platforms and related ecosystems will operate under the same technical conditions and after their takeover by 2Performant, at least 12 months after the completion of the transaction.
“2Performant is a young and dynamic company, whose values we resonate with. We expect that after the completion of the transaction, the Profitshare business together with 2Performant will offer greater value to its customers,“ Tudor Manea, Dante International General Manager.