GoAdv planning a €50 million acquisition of LeGuide.com

There has been ample evidence that the ongoing meltdown is taking a toll on the online media in Europe - after the last week announcement of Meetic purchasing the European business of Match. com, the latest blow comes in the form of an ongoing proposal about a _50 million acquisition of LeGuide. com by the independent, pan-European online media firm GoAdv!

A combination of shopping portals, LeGuide. com has been operational in 14 European countries over the last 11 years. GoAdv, holding 395,648 shares in the company, is expected to keep all of its staff and offices after the acquisition.

In December 2008, GoAdv, which at present controls 11.8 percent of the share capital and 10.8 percent of the voting rights of the LeGuide faction, had updated the company about having traversed the 5% and 10% brinks with regard to the capital held and voting rights.

With already having acquired Excite Europe - a network of over 120 horizontal and vertical websites - in October 2007, LeGuide's proposed purchase would spells big gains for the 2004-founded company, with regard to content, online marketing and shopping, and offices in France, Ireland (Dublin), Italy and Germany.

Once the approval for the proposed acquisition comes through, GoAdv would be well set to benefit from the projected expansion of the European social shopping and e-commerce scenario!