Germany-based advertising company MeinProspekt has been acquired by customer information portal KaufDA, a subsidiary of Bonial International, for an undisclosed fee, providing an exit to investors including corporate-backed fund High-Tech Gründerfonds (HTGF).
MeinProspekt provides users with digital advertising brochures of local retail businesses. KaufDa aims to expands its reach and product offering through the takeover.
Christian Gaiser, chief executive of the Bonial International Group and founder of kaufDA, said: “With the acquisition of MeinProspekt, KaufDA strengthens its position as a leading advertising solution for retail in the mobile and stationary internet. Thus it will be able to react more quickly to consumers’ changing information behavior in the future, and address these changes in an even more targeted manner.”
TheMediaLab, a joint venture between media groups Madsack and WAZ, invested in MeinProspekt in alongside venture capital fund HTGF and Mountain Super Angel in 2011, but closed in August 2013.
HTGF contributed $700,000 to MeinProspekt’s series B round in November 2010, five months after Mountain Super Angel invested what it described as a ‘high six figure’ sum in seed funding.