Published on the 26/01/2011 | Written by Newsdesk
Australian-owned Fairfax Media’s portfolio has just got bigger with the purchase of another New Zealand online company…
E-tender TenderLink is the media giant’s latest acquisition. The deal is set to be completed this month and follows Fairfax’s very successful buy up of auction site Trade Me in 2006.
Fairfax digital chief executive officer Jack Matthew says the move is part of an ongoing plan to expand in the SME market.
“TenderLink fits our strategy of acquiring high growth transactional businesses that provide services to the small to medium enterprise market,” Matthews says.
TenderLink is Australasia’s largest e-tender company providing notification services and electronic tendering solutions using a software-as-a-service model
“Combining TenderLink with our digital network, this already profitable business has considerable further potential for growth,” he says.
Fairfax paid $NZ21.6 million for the deal which is subject to conditions.
Its other online kitty also includes My Career, Domain, Drive, RSVP, Essentially Baby, InvestSMART and Stayz. Fairfax owned newspapers, magazines and online publications across Australia and New Zealand include The Age, The Sydney Morning Herald, The Dominion Post, The Christchurch Press and news website Stuff.co.nz.
TenderLink gives subscribers access to nearly 100 percent of all publicly advertised tenders published throughout Australia and New Zealand. It also provides links to exclusive tenders published in over 300 e-tendering portals. Procurers receive electronic tendering services and access to registered supplier base of over 150,000 users.
