Imobiliare.ro carries a total of 103,000 real-estate listings, thus making it Romania’s undisputed leader among comparable online marketplaces. Ringier Romania’s acquisition of Imobiliare.ro is entirely synonymous with Ringier’s global strategy of incrementally expanding its digital business. The transaction will also create synergies with Ringier’s existing Romanian activities, thus enabling them to develop further.
Ringier’s acquisition of the Imobiliare.ro portal includes the purchase of 87 percent of the shares in Realmedia Network S.A. from their former owners – Broadhurst Investments Limited, Kurt Götz and the executive management of Imobiliare.ro. The existing management team will maintain a minority stake and will remain with the company.
“The Imobiliare.ro acquisition is a further step in our endeavor systematically to transform and digitalize our business in all the markets we serve, including Eastern Europe. Thanks to this transaction, Ringier now not only owns the number one recruitment portal in Romania but has also secured the country’s largest online real-estate platform.”
Marc Walder, CEO Ringier AG
The transaction comes into effect on March 31, 2016. Imobiliare.ro’s current chief executive, Adrian Mihail Erimescu, will remain with the company as its new CEO.
“I am very proud that Imobiliare.ro, which commenced operations as an online project in Timisoara 16 years ago, has now become part of one of the largest media enterprises in Europe. This transaction will give us access to international know how and will ensure that we can make the most of national and global synergies within the Ringier Group. I am also very confident that it will enable us to provide our clients and users with even better services and to develop Imobiliare.ro into a truly world-class real-estate platform.”
Imobiliare.ro’s current chief executive, Adrian Mihail Erimescu
Ringier has been operating in Romania since 1992. Today, Ringier Romania has over 400 employees and is one of the leading international publishers in the country. Ringier Romania operates more than 30 print products and online platforms, including the Libertatea tabloid title and the Romanian edition of ELLE, the world’s best-selling fashion magazine.
Ringier AG, Corporate Communications