BONN (dpa-AFX) - United Internet AG (UDIRF.PK) announced it has signed an agreement with the owner of Strato AG, Deutsche Telekom AG, regarding the acquisition of Strato AG. The Strato product portfolio ranges from domains, e-mail packages, complete website packages, webshops, servers, to online storage and individual high-end hosting solutions.
The purchase price for 100% of Strato's shares is around 600 million euros and will be paid in cash. An initial amount of approximately 566 million euros is payable after the expected closing in the first half of 2017. A further amount of up to 34 million euros is due at a later point subject to certain performance goals.
Based in Berlin, Strato employs over 500 people with operations mainly in Germany and the Netherlands and has over 2 million customer contracts. Strato's annual revenue for fiscal year 2016 is forecasted to be around 127 million euros with anticipated EBITDA 2016 of around 48.5 million euros.
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