BT acquires Ufindus

RNS Number : 6593Y

BT Group PLC

09 July 2008

 



DC08-248                                                                                                                09 July 2008

BT ACQUIRES UFINDUS, A LEADER IN ONLINE CLASSIFIED ADVERTISING 

BT today announced the acquisition of Ufindus Ltd, one of the UK's leading online business directories by traffic. The acquisition from Iomart Group plc for an enterprise value of £20 million in cash underpins the continued growth of BT Directories, BT's classified advertising and directories business.

Ufindus is an acknowledged leader in online classified advertising with more than 20,000 small and medium-sized business customers across the UK and 1.9 million online directory listings. Ufindus offers its customers broad online exposure via its three generalist search directories - SmileLocal, MoreUK and Ufindus - and more than a hundred niche directories focused on individual trades such as builderregister.com and bathroomspecialistfinder.com. As part of an overall online package customers can also choose to have a website designed by Ufindus' specialist team within days. Ufindus' combined portfolio generates more than 9 million searches per month, offering customers a highly cost-effective web presence targeted at local customers searching for specific product and service categories. Ufindus has 300 employees and is headquartered in Lancaster, with sales offices in Chorley, Blackpool, Barrow and Huddersfield. In the year to March 31 2007, Ufindus generated revenues of £14 million.

BT Directories aims to become a leading provider of consumer enquiries to businesses, reflected in the recent launch of BT Exchanges, a new online directory service that offers consumers innovative ways to find, share, review and connect to businesses. David Benjamin, CEO of BT Directories said: "Ufindus will play an important role in the continued development of BT Directories' online portfolio. Through Ufindus' considerable expertise and experience in online classified advertising, we access further local classified product offerings, significant search traffic and new customers for this fast-growing part of our business."

The consideration will be paid in cash subject to customary adjustments to net debt and working capital. 

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Enquiries about this news release should be made to Mike Bartlett in the BT Press Office on [phone] or [phone]

Notes to editors:

About Ufindus

Ufindus, established in 2001, is an internet directory services company, which specialises in providing online marketing services to the UK's small to medium-sized businesses.

Ufindus offers customers some of the best products to promote and run their business on the internet. For consumers, Ufindus offers a whole new approach to directories on the internet, making searching for goods and services online a less frustrating experience.

Ufindus offers visitors local and national directory content, presented in a one-click -away style to help them find the service they are searching for.

About BT

BT is one of the world's leading providers of communications solutions and services operating in 170 countries. Its principal activities include the provision of networked IT services globally; local, national and international telecommunications services to our customers for use at home, at work and on the move; broadband and internet products and services and converged fixed/mobile products and services. BT consists principally of four lines of business: BT Global Services, Openreach, BT Retail and BT Wholesale.

In the year ended 31 March 2008, BT Group plc's revenue was £20,704 million with profit before taxation and specific items of £2,506 million.

British Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on stock exchanges in London and New York.  

For more information, visit www.bt.com/aboutbt

This information is provided by RNS

The company news service from the London Stock Exchange

 

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