At the end of 2017, ProSiebenSat.1, through its holding company Verivox the Munich startup aboalarm. The amount of money involved was unclear for a long time. Now it has emerged: The media giant put a whopping 10 million euros on the table.
The ProSiebenSat.1 annual report states:
“The purchase price according to IFRS 3 amounts to EUR 10 million and consists of a base purchase price of EUR 10 million and a contractual earn-out component of less than EUR 0.5 million.”
ProSiebenSat.1 paid 33 times annual profit for aboalarm
Further quoted German startups ProSieben man Claas van Delden:
"Since its founding, aboalarm has successfully processed over 5 million cancellations in Germany, demonstrated consistently high and profitable growth, and received above-average customer satisfaction ratings."
One takeover With a future, then. Whether the purchase price of €10 million is justified, however, will likely only become clear in the coming years. Nothing is known about aboalarm's revenue. However, the company, which currently employs 33 people, generated a profit of €301,514 in 2016. An increase of 42.2 percent compared to the previous year (profit: €212,045).
