The biggest Dutch newspaper, Telegraaf, has bought Hyves, according to nrc.nl. Hyves is the biggest social network in The Netherlands but has experienced growing competition from Facebook. With 6 million users it has hardly any space for growth in The Netherlands. The take-over sum is not disclosed.
Hyves revenues are 20 million annually, which will make a significant contribution to Tekegraaf's online revenues. As Alexa.com is showing a relative decline in the popularity of Hyves, which has quite a closed architecture compared to Facebook's, it has been a logical moment for the enterpreneurs and investors to divest.
In the past, Telegraaf didn't have a lucky hand with regard to managing online activities succesfully. Therefore, it's doubtful whether Hyves can keep Facebook at bay in the near future.
The take-over, however, is good news for the merger & acquisition climate in the Netherlands. It's the first significant internet take-over since the Crisis in 2009.
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