DREAMNEX : Dreamnex becomes European leader with the acquisition of the Enjoy group, the largest network of adult webcams in Europe.


DreamNex today announced the signature of an agreement to acquire the Enjoy group, which operates the largest network of adult webcams in Europe. Through this transaction, DreamNex will establish itself as the European leader in on-line adult services.

The largest network of adult webcams, combined with a multi-solution payment platform

Based in Belgium, the Enjoy group offers, through its Xcams.com site, a platform for erotic conversation via webcam, that is paid for by the user and supplied by more than 10,000 independent models (women, men and couples) located in 43 countries. The increasingly widespread availability of broadband connections has produced strong growth in this type of service over recent years. Through its up-market and efficient website, the Enjoy group has established itself as the European leader in this fast-growing market. Through its Besite subsidiary, the Enjoy group also has a multi-solution payment platform providing a full range of payment methods in 19 European countries: credit cards, premium phone numbers, text message, bank transfers or pre-paid cards.

An immediate addition of ¤38m in revenues will transform Dreamnex into the European leader

The Enjoy group will have 2007 revenues of ¤38m, with EBIT of ¤5.5m. This acquisition will mean that DreamNex will double its size and thus become the European leader in adult internet services, providing a full range of services: on-line stores, VOD, dating and webcams.

A good fit between products and audiences will lead to the rapid creation of value The two companies are not only a good fit in terms of their geographical coverage but also in their product ranges. The synergy of the acquisition will therefore quickly become evident. DreamNex will offer webcam services in France, where it reaches a wide audience but where Enjoy does not have a strong base. At the same time, Enjoy will offer an on-line store and VOD services in the Netherlands, Belgium, Spain and the UK, where it generates substantial traffic, thus helping DreamNex step up the pace of its international growth.

A strongly earnings-enhancing deal

The acquisition covers 100% of the shares in Enjoy and Besite. The final purchase price will be determined when the transaction is completed in late February 2008 (after audit and removal of suspensive conditions), and will be based on 7 times net income at the group after various restatements. The transaction will therefore be strongly earnings enhancing for DreamNex shareholders. Payment will be 67% in cash and 33% in shares at a valuation that has already been fixed. The founders of the Enjoy group will retain their operational roles and will join the DreamNex group’s management team. Their continued involvement is ensured by the fact that the cash payment will be spread over three years and that there will be a lock-up period on the shares.

Patrice Macar, founder, Chairman and CEO of DreamNex, commented, “This acquisition confirms the strategy we announced at the time of our IPO: the consolidation of the on-line adult services sector to become the European leader. We are particularly enthusiastic about this new member of our group, as we share the same values: up-market, innovative products backed by motivated and highly effective staff teams. The directors of Enjoy will join our group of partners, creating, more than ever before, a real dream team!”

DreamNex: The European leader in on-line adult services In February 2000, Patrice Macar, Chairman and CEO of DreamNex, created SexyAvenue.com, the first adult site with an up-market, sober and high-quality positioning. The site provided an on-line store for lingerie and sex toys, a photo and video service and a dating service. DreamNex rapidly established itself as the sector leader in France. SexyAvenue.com receives more than 27 million visits per month. In 2006, DreamNex had revenues of ¤34m and operating income of ¤5m.


Corporate website: www.dreamnex.com E-commerce website: www.sexyavenue.com

© Copyright Actusnews Wire
Recevez gratuitement par email les prochains communiqués de la société en vous inscrivant sur www.actusnews.com
Receive by email the next press releases of the company by registering on www.actusnews.com, it's free
Vous devez être membre pour ajouter des commentaires.
Devenez membre, ou connectez-vous.
Aucun commentaire n'est disponible pour l'instant