Competition authorities approve Tamedia investment in ZattooTuesday, April 2nd, 2019
COMCO and the German Federal Cartel Office approved Tamedia’s majority interest in Zattoo
ZURICH — In August 2018 Tamedia announced that it intended to increase its holding in Zattoo International AG to over 50 percent and thus take over a majority interest in the company. Following their examination, the Swiss Federal Competition Commission (COMCO) and the Federal Cartel Office of Germany have approved Tamedia’s majority interest.
Zattoo is the undisputed market leader in TV streaming in Switzerland and also the Number One in Germany. The company has announced just recently that it will take over the end customer business from Magine TV Germany to continue building its leadership position in Germany. In addition to the end customer business, Zattoo also offers B2B services for cable television and IPTV providers. With several dozen B2B customers, such as SALT, Hotwire Communications and 1&1, Zattoo is one of the globally successful TV-as-a-Service platforms and already a leader in the European market. Zattoo’s sales have increased by 30 percent last year and the company’s growth pattern is ongoing.
Samuel Hügli, Member of the Management Board and Head of the Technology and Ventures Division of Tamedia as well as Chairman-elect of the Board of Directors of Zattoo: “We are pleased with the positive decision of COMCO and the German Federal Cartel Office. We believe that smart TV streaming still has enormous potential and jointly with the Zattoo team and founder Bea Knecht we will expand the services of Zattoo.”
Bea Knecht, Founder of Zattoo: “With the takeover of a majority interest the long-standing partnership with Tamedia will enter the next phase. I will continue to be significantly involved, both financially and otherwise. We still have a lot of plans.”
Nick Brambring, CEO of Zattoo: “We will continue to develop Zattoo as a leading TV streaming service provider for both end customers and B2B. The market is ready and Zattoo is very well positioned with a strong product and an experienced team.”