Sale of Tenderlink Business
31 October 2016:
Fairfax Media Limited [ASX:FXJ] (“Fairfax”) has sold
its TenderLink business to Dun & Bradstreet Australia (“D&B”).
TenderLink, established in 1994, is one of the largest online procurement
communities in Australasia. TenderLink provides a central gateway for the
advertisement and management of tenders, quotes and expressions of interests
published by government, public and private sector procurers.
TenderLink was acquired by Fairfax for A$14 million in 2010, and was operated as
part of Fairfax’s Digital Ventures division. Inclusive of contribution to operating
profits and sale proceeds, Fairfax has achieved a 2.3x return on investment.
Fairfax’s Group Director of Digital Ventures, Guy Reypert, said: “TenderLink has
significantly grown its footprint in the procurement sector over the last six years, with
a particular focus on serving the procurement needs of local government. D&B is a
natural owner of TenderLink, with the businesses having complementary
capabilities. D&B is well placed strategically to provide new opportunities for
TenderLink’s customers and employees.”