Apax to Buy Stake in D+S Europe; May Acquire

Apax, a private equity firm, will buy 27% of German online marketing services firm D+S Europe for 42.5 million Euros ($67.8 million).

The company also said it has offered to buy the entire firm for 13 Euros per share ($20.75).

This offer is entirely equity financed, will not have a minimum acceptance threshold, and does not foresee an implementation of a domination or profit and loss transfer agreement, according to Apax.

"We are happy that we have found in Apax a partner and long-term oriented investor that supports and secures our future growth strategy,” said Achim Plate, CEO of D+S, in a statement. “D+S Europe will benefit from the strong financial resources of Apax, its extensive international network, and its long experience in the consumer, technology and telecommunication industries. In particular, financial support from a strong partner such as Apax Funds is of enormous significance in the current difficult financial environment.”