It's a multi-million dollar deal: Munich-based Stylight is being acquired by ProSiebenSat.1. The valuation: €80 million. As expected, 7Commerce, the investment subsidiary of ProSiebenSat.1, is taking over the fashion platform Stylight.
“Stylight will thus be 100 percent owned by 7Commerce at a company valuation of 80 million euros,”
The broadcasting group has been on board with the Munich-based company since 2012 and most recently held 22 shares in the company. ProSiebenSat.1 paid €62.4 million for the remaining shares.
In addition to ProSiebenSat.1, Holtzbrinck Ventures, Tengelmann Ventures, and business angels such as Urs Keller and Stefan Gessulat also participated in Stylight. Stylight founders Anselm Bauer, Benjamin Günther, Max Meier, and Sebastian Schuon together held 36 % shares in the company, which operates in 15 countries and employs over 200 people.
As always with such acquisitions, the purchase is subject to approval by the Federal Cartel Office and the Austrian Federal Competition Authority.
