MIVA ANNOUNCES ENIRO AS FIRST PRIVATE LABEL PARTNER IN EUROPE
- MIVA to provide performance marketing solution to the leading directory company in the Nordic media market
Stockholm, Sweden, 6th July 2005. MIVA, Inc., (NASDAQ: MIVA) the largest, global independent Performance Marketing Network, today announced its first Private Label deal in Europe with Eniro AB, the leading directory company in the Nordic media market. The agreement covers all four Nordic markets - Sweden, Denmark, Norway and Finland. This announcement follows the launch of MIVA's Private Label Partner programme in Europe on 13th June. In connection with the private label agreement, Eniro acquired MIVA's assets in Scandinavia - which fall under the Espotting brand - as the two companies join forces to establish a leading position in the Scandinavian Pay-Per-Click sector.
MIVA pioneered the Private Label Partner programme, which gives large corporations, such as Eniro, a foothold in the Performance Marketing sector under their own brand name. Pay-Per-Click, one of the facets of performance marketing, is one of the fastest growing areas of online advertising in Scandinavia. By becoming a MIVA Private Label Partner, Eniro boosts its Pay-Per-Click business quickly and efficiently. MIVA currently provides private label solutions for Lycos and Verizon in the U.S. market and to Mitsui in the Japanese market.
'The licensing of the platform will strengthen Eniro's over all customers offering. Eniro has identified paid search advertising as an area with strong growth potential. During 2005 the total market in Sweden is expected to double from 78 MSEK 2004 to 153 MSEK*,' says Cecilia Geijer-Haeggström, Head of Products and Market, Eniro AB.
'Eniro is one of the strongest media properties in the Nordics, with both an online and an offline publisher presence' commented Rick Szatkowski, GM/SVP Private Label, MIVA. 'This deal highlights the benefits of partnering with an independent company which does not compete with its partners for users. MIVA provides an excellent speed-to-market solution that helps partners extend their services in a competitive market thereby increasing their revenue opportunities.'
MIVA will be providing the technology, resource and expertise for Eniro's branded Pay-Per-Click Ad service. In connection with execution of the private label agreement, Eniro is acquiring MIVA's assets in Sweden, Denmark and Norway, which are under the Espotting brand, and the parties intend to shift the service to Eniro's brand to complement the variety of advertising products offered by Eniro. By unifying with Eniro, MIVA is strengthening its stand in the Scandinavian market for its clients. Advertisers will benefit as their Pay-Per-Click Ads will be displayed across Eniro's web properties. In April 2005, the number of unique users to www.eniro.se increased by 51% to an all-time high of 4.3m (versus April 2004). Partners will benefit from the increased resource Eniro brings while still leveraging MIVA's expertise in monetising web traffic.
The asset agreement closed on 1st July 2005. Eniro's branded Pay-Per-Click Ad product, powered by MIVA, is expected to launch in Sweden, Denmark and Norway in 2005, and in Finland in 2006.
Baker & McKenzie have acted as legal advisors to MIVA on the deal.
www.eniro.com
www.miva.com
