Fast-growing digital media companies, GoAdv has announced a delisting from France's stock exchange, the Alternext of NYSE Euronext.

"GoAdv is experiencing phenomenal growth in the emerging content on demand sector, which is fundamentally changing the way content is produced, distributed and monetised online," said Luca Ascani, Chairman of the GoAdv Group. "With the recent acquisition of Associated Content by Yahoo Inc and other consolidation activity, we believe the company will be better positioned for growth and other strategic opportunities as a private entity. Due to GoAdv's strong cash position, our delisting will allow us to pursue expansion opportunities while continuing to increase cost efficiencies in our business."

Truffle Capital and GoAdv's other core shareholders (Genius SA and the company's two founders, Luca Ascani and Salvatore Esposito) had announced a tender for minority shareholders on 18 May, 2010, and this was to be followed by the delisting from Alternext. "We wanted GoAdv's delisting to be an upbeat transaction by offering shareholders a significant premium (around 50%, whereas France's CAC40 index fell about a third over the same period)," explains Bernard-Louis Rocques, founder and Managing Partner of Truffle Capital, in charge of the firm's IT division. "Truffle Capital has again demonstrated its long-term commitment to monitoring the price profiles of its listed investments and how their shareholders are treated."

During the three years as an Alternext listed company, GoAdv has fast become a specialist in the production, distribution and monetisation of content on demand, growing the number of its unique monthly users by 150% from 8 million to 20 million, and its revenues by 320% from €10m to €42m in 2009. It has now a network of over 500 niche media properties, and produces content in eight different languages supported by a staff of 140 employees worldwide.

"GoAdv's strategic plans for the coming year include both organic and external growth, as well as to increase our online reach and market share of the online media sector," concludes CEO of GoAdv Group, Salvatore Esposito. "In particular, the growth of content production through an innovative crowdsourcing model with an emphasis on multi languages, quality and scalability will enable us to strengthen our market position."

GoAdv has also appointed a new COO, Giovanni Fantasia. With over fifteen years experience in the internet, technology and management consultancy sectors, and a solid background as a strategic, hands-on general manager, Giovanni will be responsible for GoAdv's overall group operations, including Marketing & Sales, Product, Technology, R&D/Innovation and HR, as well as defining and managing the group strategy. 

www.goadv.com
www.truffle.com

More in the IT Europa Premium issue 13 out July 23 

For further information on IT Europa’s subscription news service packages click here