Financial terms were not disclosed.
Netbooking’s operations and staff will be combined with 24/7 Suomi, 24/7’s newly launched Finnish operation.
Its portfolio of 50 sites, which includes most of Finland’s biggest sites, will be integrated into 24/7’s European network and sold internationally by 24/7’s network in 12 European countries and by 24/7 Media in the United States and 24/7 Asia.
Founded in 1996, Netbooking Ltd was the first Internet advertising network in Scandinavia and now claims to have 17 percent of the Finnish online advertising market, making it the leading online sales company in Finland, 24/7 said.
Pertti Hakala remains managing director of 24/7 Suomi and Antti ErC$nne, managing director of Netbooking, takes a senior role in the strategic development of 24/7 Europe and 24/7 Suomi.
“The deal between 24/7 and Netbooking combines the best talents in Finland’s online advertising market,” said Gordon Simpson, CEO of 24/7 Europe. “It brings a new international perspective to the local market.”
The acquisition follows 24/7 Europe’s recent signing of Microsoft’s MSN/Hotmail portals for the Nordic region.
Netbooking sites to be integrated into the 24/7 network include SoneraPlaza, Saunalahti, HS-verkkoliite, Kiss FM, Ilta=Sanomat, Ihmemaa, Keltainen PC6rssi, Taloussanomat, Kauppalehti and Duuni.net.
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