Getupdated Internet Marketing has signed a letter of intent with the intention to acquire one of the UK’s leading search marketing companies, Just Search Limited, for £8.8 million and an earn-out based on the profit for 2008 and 2009. The acquisition further strengthens Getupdated’s global reach and combines the two companies’ expertise in search engine optimisation (SEO), paid-for search and affiliate marketing. 

Getupdated has an aggressive expansion strategy, making 12 acquisitions in 2007 and growing by 300 per cent, two thirds of which was organic growth. Getupdated plans to be operational in 12 markets by 2009 and the company’s vision is to become a leading full service provider within internet marketing globally.

During the last year Just Search achieved a 100 per cent growth rate with margins in excess of 40 per cent. The company is forecasted to turnover £5.5 million in this financial year, achieving a profit of £3 million. The high margins are achieved due to yearly contract based agreements. Just Search has a stable client based stock with a 90 per cent contract renewal. Just Search has offices in Manchester and London and conducts business in Australia, France and the US, which will be intergrated into the Getupdated business.

“The acquisition of Just Search makes Getupdated one of the largest players in the search marketing industry offering a comprehensive portfolio of services,” says Mattias Kaneteg, CEO and founder of Getupdated Internet Marketing. “Our continued expansion means that we are one of the few providers to offer a truly international service, particularly for businesses that are looking to maximise their web footprint on a global basis.”

“Just Search is already one of the fastest growing search marketing service providers in the UK and joining forces with Getupdated further strengthens our position,” says Paul Yates, CEO of Just Search, who founded the company with his brother Justin Yates. “Just Search is a results-driven business, providing simple solutions for better web placement. Following the acquisition and opening of our London office last month, we look forward to building on this vision and further expanding our business service portfolio.”

Earn-out rate went up to 115 million SEK and will be divided in two payments. 90 million SEK will be the entry payment and 25 million SEK after a period of 12 months. Earn-out rate is based on 2008 and 2009 performance where profit is also included. An extra shareholder meeting will be announced shortly in order to approve issuing of new shares, which will finance the acquisition of Just Search. The target date for acquisition is 14 November 2007.

About Just Search

Just Search helps companies eliminate wasted internet spend to get the maximum possible return on search engine optimisation and paid search campaigns. Combined with its affiliate marketing packages, Just Search’s tools provide simple solutions for better web placements.

With headquarters in Manchester, Just Search is one of the UK’s fastest growing web marketing companies and has a global presence with offices in London, Paris, San Jose and Sydney.

For further information please visit www.justsearch.co.uk.

About Getupdated
Getupdated Internet Marketing, former Eastpoint AB, delivers and entire range of products and services for marketing on the Internet: presence, profile, traffic generation & conversion. Getupdated Internet Marketing makes sure that customers always have access to the right tools and competence for reaching their potential clients regardless of its location and services. Getupated also guarantees results in availability and time delivery so that you only pay for the traffic which leads to business closure.
 
Getupdated Internet Marketing clients are companies and organizations that want to reach their costumers and make business online. Since 1999 we have helped many companies to develop their operations on the Internet. Among the companies we find: Tele2, Unibet, Intrum Justitia, Gustavsberg and JLindeberg. Getupdated Internet Marketing has a total of about 210 employees divided within offices in Stockholm Sweden, Göteborg, Norrköping, Borås, Kalmar, Malmö, Norway, Tampa, Fort Lauderdale, Paris and London. Eastpoint is listed at Fist NorthOMX and has Mangold Fondkommission as certifier advisor.

For more information, please contact:
Mattias Kaneteg, VD Getupdated Internet Marketing AB
+46 73-511 14 44, mattias.kaneteg@getupdated.com

Philip Szomszor, Berkeley Public Relations, PR for JustSearch
+44 1629 826 942, Philips@berkeleyprnorth.co.uk

Annika Jungeteg-Falkman, Text 100, PR for Getupdated Internet Marketing
+46 8 545 517 72, annika.falkman@text100.se