Media Swiss swallows Xmedia

Gate24 operator Media Swiss is taking over Scout24 founder Xmedia. The merger of the two companies and their subsidiaries will create a leading Swiss competence center for online marketplaces and cross-media services with over 350 employees, according to a press release. The two companies did not disclose the purchase price. The new company will employ over 350 people, who will continue to work at their existing locations in Flamatt, Urdorf and Geneva. The newly created Media Swiss Group will be managed by Dölf Früh, the previous sole owner of Media Swiss, and the founder and main shareholder of Xmedia, Daniel Grossen. As a media company in the fields of geographic information systems and electronic directories, Media Swiss has been focused on the Swiss market for twenty-three years. Xmedia has been offering cross-media e-business and e-media solutions for eleven years. With the takeover, Media Swiss now holds a 49.9 percent stake in Scout24 Schweiz Holding. Deutsche Telekom continues to hold 50.1 percent.