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Econet buys online IT, telco portal

Analysis

Listed Hungarian media-ISP firm econet.hu, bought 100% of Pro Future Informatikai Beruházó és Fejlesztő Kft, operator of the www.jox.hu website, econet announced on the website of the Budapest Stock Exchange (BSE).

The buyer is econet.hu's subsidiary, Magyar Vendor Informatikai Szolgáltató Kft that made the deal on December 7 “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. (BSE)

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