The Media-Saturn Holding has acquired a majority stake in Dutch flash sales site iBood.com. A similar deal was also on the cards several years ago, but back then Media-Saturn's founder Erich Kellerhals protested and the deal fell through.
Electronics Online Group
With a majority stake in iBood.com, the seemingly endless bickering has now come to an end. Media-Saturn wants to use the website to continue its online expansion, by adding it to the Electronics Online Group containing all of its "pure players", with Redcoon as the front-runner.
In return for a minority stake, Metro Group already provided iBood.com with funds last year, which were used to create a new, responsive design for its website. Jöran Prinssen and Dennis Sanders, who founded iBood ten years ago, will stay on as managing partners.