Eastern Europe Search Engine Seznam May Sell For Over $900 Million

Posted Aug 19, 2008

Seznam is the leading search engine in Czech.  Seznam has 62% search engine market-share in Czech and Google has 29%.  Rumor has it that Seznam is searching for a buyer.  Google Inc. (NASDAQ:GOOG) and Microsoft Corporation (NASDAQ:MSFT) are in the list of speculative buyers.  Other speculative buyers include private equity firms, Warburg Pincus and Apax Partners.  Goldman Sachs Group, Inc.  (NYSE:GS) is helping Seznam shop for a buyer.

Private equity firms, Tiger Holding Four and Miura International currently own 30% of Seznam.  These two firms bought ownership in Seznam from Lycos Europe for $91 million.  This gave Seznam a valuation of $300 million in April 2007.

Seznam had about 4.4 million uniques per month as of May 2008.  Seznam expects to make 1.4 billion Czech korunas ($84 million) in revenues this year. Seznam started in 1996 by Ivo Luka?ovi?. 

According to the Quintura blog, if this deal goes through, it will be the largest Internet acquisition in Eastern Europe.

Related Link:
1. Seznam