Eniro drops purchase of Idium.
15 August 2014 - Eniro Norway AS, the Norwegian unit of Swedish search and local information aggregator Eniro AB (STO:ENRO), said today that it had scrapped its planned acquisition of local media agency Idium AS.
The move follows the decision of Eniro's board of directors not to approve the deal. This decision was in turn prompted by the directors' view that conditions for closure had not been met, the company said.
Eniro signed an agreement to buy Idium in July as part of a strategy designed to strengthen its offerings in the products revenue segment and boost its Norwegian operations.
Idium operates in a wide range sectors in the digital advertising field, offering search engine optimisation, video, website production, as well as advertising on Google and Microsoft Bing.
Sector: Media, Advertising/PR
Target: Idium AS
Buyer: Eniro AB, Eniro Norway AS
Type: Corporate acquisition