got acquired by Nextag

0, one of Europes leading price comparison sites (wich is based in Germany), just got acquired by the US based Nextag. Consumers use Guenstiger’s brands to easily and quickly compare products and prices of thousands of online merchants and offline retail shops throughout Germany. Guenstiger also operates websites in Hungary, Switzerland, Austria, Poland and Russia. This acquisition marks the most significant strategic transaction for Nextag to date. Nextag will purchase Guenstiger with a combination of cash and stock. Other transaction details have not been released and the transaction is subject to approval by regulatory agencies. Going forward, Guenstiger will maintain its leading brands and continue to be led by its current management team. While Guenstiger is expected to run independently, the two companies will work closely to leverage each other’s capabilities going forward.

“Over the past 10 years, Guenstiger has placed a premium on building an outstanding user experience and market leading brand in the German market and other countries. Consequently, Guenstiger has an extremely loyal user base and a reputation as one of the most authoritative and trusted comparison shopping sites in Europe” said Jeffrey Katz, Chief Executive Officer of Nextag. “By joining forces with Guenstiger, we will quickly accelerate our growth internationally, diversify our traffic sources and deliver a shopping experience that consumers love and merchants value. We are also delighted that Guenstiger’s managing directors, Philipp Hartmann, Aske Magdalinski, and Torsten Schnoor, will join Nextag’s senior team and continue leading Guenstiger after the closing of the transaction. This is a significant victory for Nextag.”

“The purchase of Guenstiger by Nextag is a great validation of what we have built in Germany,” said Aske Magdalinski, Managing Director of Guenstiger. “By combining our talents in brand building and user experience design with Nextag’s unsurpassed skills in traffic generation and monetization, we will create a company that is uniquely well positioned for future growth and expansion.”