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Fairfax Media sells tender notification service provider Tenderlink

Fairfax Media has sold tender notification service provider TenderLink to Dun & Bradstreet Australia six years after acquiring the business.

tenderlink

Tenderlink provides a gateway for the advertisement and management of tenders, quotes and expressions of interests published by government, public and private sector procurers.

Fairfax Media acquired Tenderlink for A$14m in 2010 and was operated as part of Fairfax’s Digital Ventures division.

According to a release filed to the ASX today, Fairfax achieved a 2.3x return on investment, inclusive of contribution to operating profits and sale proceeds.

Fairfax group director of digital ventures, Guy Reypert, said: “Tenderlink has significantly grown its footprint in the procurement sector over the past six years, with a particular focus on serving the procurement needs of local government.

“D&B is a natural owner of Tenderlink, with the business having complementary capabilities. D&B is well placed strategically to provide new opportunities for Tenderlink’s customers and employees.”

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