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Egmont Acquires Norway’s second largest Internet Community

The media company Nettavisen and Egmont Serieforlaget have won the opportunity to acquire Biip.no, which is Norway's largest Internet community targeted towards the kids and youth segment

The three founders are satisfied with the agreement, that involves a 45 % ownership by Egmont Serieforlaget and another 45 % ownership by the TV 2 owned company Nettavisen. The three Norwegian founders will keep 10 % of the ownership.

Biip.no currently has more than 316,000 members. Because of an increasing membership base, the site has been wanted on the market for quite a while among both Norwegian and international actors. The choice of two Egmont-owned companies as preferred owners was explained by the fact that Egmont Serieforlaget today is Norway's largest actor within the market for children and youth media. Using the common knowledge about youth media will create added value for each other and create the foundation for further growth.

In 2007, Biip.no had a revenue of 6 million NOK and the year's result showed a profit of 1,2 million NOK. The trade has been doubled every year the last 3 years and a doubling is expected again in 2008. The Internet community, that was established in 2005 have now outperformed its closest competitors and is now the second largest community in Norway with only VG's Nettby being larger.