The WP Group acquires the Money Group
The WP Group acquires the Money Group, consolidates its leadership in the “Business, Finance, Law” category and develops its financial e-commerce sector.
The Wirtualna Polska Group has concluded a purchase agreement for a 100% stake in the Money Group, one of the strongest brands on the Polish internet, consolidating its positions as the leader in the “Business, Finance, Law” category. This investment also constitutes a stepping stone for the WP Group to further develop in the financial e-commerce area. The transaction value was not disclosed.
The Money Group’s focus is on editorial, advertising and e-commerce activities. Its flagship product is Money.pl – one of the most popular financial websites in Poland established 14 years ago. On a monthly basis the Group’s websites reach in excess of 3.7 million users.
Investing in high quality, opinion forming content is our ambition and one of our strategic goals which we’ve been pursuing since February of this year. Inclusion of Money.pl, a well known brand into our portfolio is a natural step in our strategy. Our business editorial team gains a number of recognised journalists and experts in such fields as the stock market, economic reports, financial analysis and law. – says Jacek Świderski, President of the Wirtualna Polska Group Management Board.
Since the merger of WP and o2 in spring of this year, we’ve been investing in the “Business, Finance, Law” segment which resulted in a boom in terms of readers’ numbers. In September we became the Megapanel category leader. The Money Group investment consolidates the said position and adds weight to WP Group’s portfolio of strong brands – according to Grzegorz Czapski, WP Group Corporate Development VP.
We watched intently as Wirtualna Polska Group together with Innova Capital fund strengthened their position on the Polish internet, not only through acquisitions but also by virtue of innovative projects which now we’ll also be able to actively participate in. We bring a number of product competencies and unique know-how to the WP Group. Joining forces does more than just stabilise our market position: first and foremost is opens up new business opportunities for us. – Aleksander Kusz, Money Group President comments on the transaction.
An important element of the Money Group’s activity is the dynamically growing e-commerce sector, which constitutes one of the pillars of WP Group’s development strategy. The Money Group has developed services and tools for purchasing and selling financial products and services on-line, as well as facilities for savings or managing a private budget. On account of its consolidated position within this segment and established business relations with large financial institutions, the Money Group share purchase transaction shall constitute a solid foundation for Wirtualna Polska’s further growth in this area.
To a large extent e-commerce transactions are based on trust. The two brands, WP and Money, joining forces will facilitate the establishment of trusted websites, which will guarantee the right context for online sales operations to prestigious financial brands which in turn will be able to reach appropriate recipients interested in given products – says Michał Brański, WP Group Strategy VP.
During the course of the last nine months the newly established Wirtualna Polska Group underwent a process of integration and development as well as a number of image alterations which include a brand new WP home page, backed up by an extensive marketing campaign, a change in the publishing policy and a complete overhaul of WP website’s visual identification. The Group completed acquisitions in the “Sport”, “New Technologies” and „eCommerce” fields which led to improved content on the WP home page and the use of its website traffic potential to further presence in the e-commerce segment („content-meets-commerce”). The Group also struck up strategic alliances with editorial teams at Rzeczpospolita, Discovery, TVP and Radio Z amongst others. New advertising formats have also been introduced. Partnerships have been entered into with prestigious brands such as Orlen, Nike, L’Oreal, PKO BP, Mars, Wedel, Skoda, Polpharma and Lidl in terms of special advertising actions. And finally its presence in the video segment also saw an improvement through investments in the team and a new television studio. New functions have been added to the WP and o2 e-mail services.