Cirio legal advisor to Asiakastieto Group on the acquisition of Proff from Eniro

Cirio has advised Asiakastieto Group and its subsidiary UC AB on the acquisition of Proff Denmark, Proff Norway and Proff Sweden from Eniro.

The Proff companies’ net sales in 2018 amounted to approximately SEK 101 million, and they employ approximately 60 persons. The business to be acquired consists of Proff and Proff Forvalt company information services. Proff is an internet-based service for free-of-charge company and financial information, the business of which is based on the visibility purchased by companies, display advertising and a subscription-based revenue model. Proff Forvalt is a fee based service, offering comprehensive financial and background information on companies and credit ratings to its Norwegian customers.

The company information services of Proff in Norway, Sweden and Denmark have altogether approximately three million unique visitors on a monthly level, and the freemium company information services offered by it are equivalent to Asiakastieto’s allabolag.se service in Sweden and asiakastieto.fi/yritykset service in Finland. Eniro and Proff will continue contributing to each other’s websites displaying company data and company financial data for the purpose of financial search operations for a period of three year.

The agreement was concluded on 20 May 2019 and the closing is expected to occur on 1 July 2019.

Cirio’s team was headed by Anders Moberg and mainly consisted of Carl Axel Morvay, Erik Sundgren, Yousef Chakir, Johanna Hällgren, Hanna Engström and Jessica Grönberg.

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