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 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.”
Miranda Ward worked for Mumbrella from 2013 to 2017, eventually becoming deputy editor. Miranda joined Mumbrella in September 2013 from Sky News.
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