Fairfax Media buy’s TenderLink.com
Fairfax Media has acquired tender notification service provider TenderLink.com.
The announcement:
Sydney, December 13, 2010 – Fairfax Media Limited (FXJ:AU) announced today the acquisition of the southern hemisphere’s largest tender notification service provider,
TenderLink.com for a maximum consideration of NZ$21.6 million.
TenderLink is a tender notification service and provider of electronic tendering solutions using a Software-as-a-Service (SaaS) model. It is recognised as the clear leader in its fields in the Australian and New Zealand markets.
TenderLink’s service brings purchasers and suppliers together as well as streamlining the management of the tendering process from paper to electronic.
Jack Matthews, Fairfax Digital’s Chief Executive Officer said “TenderLink’s digital solution improves the tendering process for both tenderers and suppliers. As the clear leader in its market, TenderLink fits our strategy of acquiring high growth transactional businesses that provide services to the SME market. Combining TenderLink with our digital network, this already profitable business has considerable further potential for growth.”
Philip Brown, TenderLink’s Chief Executive Officer said “Fairfax is an excellent place for TenderLink to continue its success, bringing considerable synergies and added value to TenderLink. Fairfax’s reach into businesses in the Australian market and elsewhere will help TenderLink accelerate its growth.”
TenderLink’s web-based technology enables purchasers to speed up the tendering process by efficiently engaging with suppliers electronically. Through subscription and advertising fees, procurement teams, particularly in construction, local government, utilities and universities, use the service to reach over 150,000 registered suppliers.
Suppliers subscribe to an electronic tender notification service that provides access to 99% of publicly advertised tenders throughout Australia and New Zealand.
TenderLink was established in 1994 by its founder and current CEO, Philip Brown. The business is headquartered in New Plymouth, New Zealand. It employs 38 staff in New Zealand and 9 in Australia.
Further information on TenderLink.com and the transaction is attached.
Source: Fairfax Media press release
Great, something else for them to fuck up. The Failfax story is becoming remarkable similar to that of telstra. #continualfail
User ID not verified.
Could someone explain why Fairfax bought this business?
Its tiny, isn’t actually transactional (its a publishing subs business), there isn’t any strategic synergy of any import , its not high growth at all, it doesn’t relate to anything else they have…..its basically just a very weird thing for them to have done at and a very strange time to do it…..just after the restructure. There must be some logical tie up somewhere? Jack Matthews reasons don’t seem to make any sense…..Anyone inside or outside that can shed some light on this…..
thanks
User ID not verified.