"Hungary's listed advertising, publishing and Internet Service Provider, econet.hu, has acquired 100% of Pro Future Informatikai Beruházó és Fejlesztõ Kft, the operator of www.jox.hu website.The buyer is econet.hu's subsidiary, Magyar Vendor Informatikai Szolgáltató Kft that made the deal on 7 December “at a purchase price considerably below the threshold of substantiality".
Pro Future Kft. is the proprietor of www.jox.hu domain, the jox.hu magazine available there, all related software applications, know-how, documentation, client data base, archives and services.
jox.hu, a site primarily covering IT and telecommunication issues, has already been in econet.hu's media portfolio and its advertisement spaces have been sold by Magyar Vendor for a share of the revenues. Following the transaction, the entire revenue will stay within the econet.hu group.
jox.hu, which was launched in August 2004, has 30,000 registered users and some 3,000 unique users a day, according to Webaudit numbers. .
Portfolio.hu viewpoint
Since the statement of econet.hu contains extremely few details (missing the purchase price, profitability, etc.), it is hard to assess the acquisition. The 3,000 unique users a day, however, prompts us to regard the weight of the deal as negligible, compared to econet.hu's media portfolio."
Source: Portfolio Online Financial Journal
12.12.2007