Euronext acquires majority stake in Company Webcast
14 February 2017 | 2180 views | 0
Today Euronext announces the acquisition of a 51% majority stake in Company Webcast, a Dutch company specialised in professional webcast and webinar services. The transaction includes an initial cash payment of €3.6 million.
Company Webcast, based in the Netherlands, provides high-end webcast and webinar solutions to more than 260 corporates and local governments, through its state-of-the-art platform. In 2016 Company Webcast generated €3.6 million of revenues. The company’s cutting-edge technology and established market position, combined with the support of Euronext as a strategic shareholder, will enable it to further expand its service offering.
The acquisition of Company Webcast is a significant milestone in the development of Euronext’s Corporate Services offer announced as part of its strategic plan “Agility for Growth” in May 2016. Euronext’s Corporate Services offer aims to help issuers make the most effective use of capital markets. It will focus primarily on the most critical needs of issuers, supporting them in areas such as increasing their visibility within capital markets, enhancing the impact of their communication, understanding their investors and improving their governance. Webcast and webinar solutions are a major driver in improving corporate communication and will be integrated as a key pillar of Euronext’s Corporate Services offer. The current management team of Company Webcast will remain in place and will continue to grow the business while benefiting from Euronext’s expertise with listed companies.
Stéphane Boujnah, Chairman and CEO of the Managing Board of Euronext NV, commented: “The acquisition of Company Webcast will enable our more than 1,300 issuers to engage more closely with their stakeholders and broaden their communication reach. This investment once again demonstrates our disciplined M&A approach as we accelerate the deployment of our “Agility for Growth” strategic plan. Company Webcast’s strong value proposition, the entrepreneurial spirit of the management team and its scalable business offer the best conditions to further roll out its offering in the Euronext markets and beyond.”
Iwan Lawerman, CEO of Company Webcast, added: “We are very excited to be part of Euronext’s strategic growth plans. In 2004, our company started out organising webcasts of Investor Relations events, with the aim of helping organisations to become more transparent. Since then we have become the leading player for professional webcast and webinar services in the Benelux countries. Euronext’s support will enable us to more rapidly broaden our service offering in Europe. The management team will remain unchanged and will continue to drive Company Webcast’s development in the future.”