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South Africa : RINGIER AFRICA GROUP buys DealDey.

Ringier Africa Deals Group announced the buyout of DealDey, expanding its portfolio beyond publishing and digital marketing in Nigeria and Silvertrees first e-commerce investment in the country.

Following the acquisition, Kehinde Oriola will continue as the CEO of DealDey as part of RADG, while Etop Ikpe will be moving on to new ventures. As acting CEO of RADG, Damien Bonnabel, current Head of e-Commerce for Ringier Africa and General Manager of Ringier Kenya, will be working with the management of DealDey and the groups other companies.

The DealDey team is excited about joining forces with the newly-formed Ringier Africa Deals Group. It offers great opportunities as DealDey brings a wealth of experience in technology, merchant management and consumer behaviour in Nigeria and we will be leveraging the Ringier Africa portfolio in marketing, classifieds and media as well as Silvertrees e-commerce expertise towards supporting the sustainable growth of the group, said DealDey Co-CEOs Kehinde Oriola & Etop Ikpe.

Ringier Africa has identified e-commerce as a key area for growth and we are excited by the inclusion of DealDey in the Ringier Africa Deals Group, said Ringier Africa General Manager Leonard Stiegeler, With the addition of e-commerce-experienced Silvertree (http://silvertree.holdings) as a partner and investor, we are on track to significantly increase our interest in the space, with particular focus on serving the important markets of Nigeria, Ghana and Kenya.

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Publication:Mena Report
Geographic Code:6NIGR
Date:Mar 26, 2016
Words:241
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