Tomorrow Focus AG

euro adhoc: Tomorrow Focus AG
Mergers - Acquisitions - Takeovers
TOMORROW FOCUS AG Takes Over Majority Interest in HolidayCheck AG

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Strategic Acquisition to Enlarge Transaction Business

Munich, July 7, 2006 - TF Beteiligungs GmbH, a wholly owned subsidiary of TOMORROW FOCUS AG, is taking over 51% of the Swiss travel portal HolidayCheck AG, Kreuzlingen, one of the leading online offers in the German-speaking travel community, and thereby securing profitable transaction business in the growing travel market. HolidayCheck was founded in 2003 and runs the leading opinion portal of that name for travel and vacations. With 1.6 million page impressions per day, HolidayCheck is one of the most popular travel pages in the German-speaking area and one of the largest providers of user-generated travel content. The central component of its operative business is a hotel evaluation database that grows daily and a comprehensive archive of photos and information that is provided and updated by users. HolidayCheck runs its own TÜV-certificated travel agency that guarantees lowest prices. Last financial year’s net sales were 4.5 million Swiss francs (EUR 2.9 million) with earnings before taxes of EUR 2.1 million Swiss francs (EUR 1.3 million).

The first tranche of the purchase price for HolidayCheck AG amounts to EUR 9.0 million in cash this financial year. In addition, an earn-out was agreed that will lead to two further payments in 2007 and 2008 if certain contractually agreed targets are reached.

Burda Digital Ventures GmbH, Munich, has acquired at the same time as TOMORROW FOCUS AG 29% of HolidayCheck AG. HolidayCheck AG’s founders retain 20% for the time being. TF Beteiligungs GmbH and Burda Digital Ventures GmbH have agreed on the 20 percent call and put options held by the founders. TF Beteiligungs GmbH and Burda Digital Ventures GmbH have, in conjunction with their partnership status and the exercising of the rights from the purchase contract, agreed on a close reconciliation.

TOMORROW FOCUS AG developed and enlarged travel as a channel in financial year 2005. The acquisition of HolidayCheck provides TOMORROW FOCUS with access to highly profitable and strongly growing transaction business. Expansion of the HolidayCheck business to other European countries is already in preparation.

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ots Originaltext: Tomorrow Focus AG
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Further inquiry note:
Ariane Meynert
Tel.: +49 (0)89 9250 1256

Branche: Software
ISIN:      DE0005495329
WKN:        549532
Index:    CDAX, Prime All Share, Technologie All Share
Börsen:  Frankfurter Wertpapierbörse / regulated dealing/prime
              Börse Berlin-Bremen / free trade
              Hamburger Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Niedersächsische Börse zu Hannover / free trade
              Bayerische Börse / free trade

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