Acquisition
11 Diciembre 2003 - 1:00AM
UK Regulatory
RNS Number:0809T
Vitesse Media PLC
11 December 2003
VITESSE MEDIA PLC
VITESSE BUYS THEWRONGPRICE.COM TIP SITE
Vitesse Media Plc, the AIM-listed print and on-line publisher in the enterprise
sector, has acquired the assets of financial news provider thewrongprice.com
through its FSA regulated offshoot Growth Company Investor.
The website was set up in April 2000 by two investment professionals and has 750
subscribers paying typically #90 a year. The service is targeted at active
private investors looking for undervalued stocks offering high growth potential.
As part of Growth Company Investor it will continue to provide an investment
recommendation service as well as a weekly market report.
Sara Williams, chief executive of Vitesse Media, said "We are absolutely
delighted thewrongprice team has decided to join the stable of Growth Company
Investor products providing high quality recommendations and information to
investors. We are looking forward to marketing the service more widely. The
acquisition will be earnings-enhancing and is the first step in our wider
acquisition objectives."
Theo Phanos, a co founder of thewrongprice, said "We believe the business has
the potential to grow significantly faster helped by the marketing strength of
the Vitesse organisation."
11 December 2003
Contacts:
Sara Williams Vitesse Media Tel: 020 7430 9777
Hugo de Salis/Isabel Crossley St Brides Tel: 020 7242 4477
This information is provided by RNS
The company news service from the London Stock Exchange
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