Germany’s InternetMedia House.com AG shares surged almost 10 percent after the company said it bought a majority stake in advertising agency INTERACTIVE Online Services I.O.S. GmbH.
IMH shares rose 1.3 euros, or 5 percent, to 27.4 after reaching a high of 28.6 euros, Bloomberg News reported.
The company took a 51 percent stake in IOS; financial details were not disclosed.
IMH said it will group IOS with its @solutions GmbH advertising agency and multimedia company Assenmacher, in which it took a majority stake in August.
Since a July initial share sale at 20 euros a share, which raised 29 million euros ($20.7 million) for expansion, the company has bought a majority stake in International Consulting & Marketing Group Inc., which hosts the fourth-most popular German-language Internet index.
It also formed an online sports joint venture with Axel Springer Verlag AG and Kirch Group, Bloomberg said. IOS clients include Merck KGaA and Novartis AG.
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