Russmedia Equity Partners (REP), of Lichtenstein, has acquired 60% of the equity of Austrian company Bergfex, a European tourism app principally covering the Alps. It claims a user base of 65m annually. Terms not disclosed.
REP, which has a €100m fund invested in 19 digital businesses across six European countries, is a subsidiary of the 101-year-old family-owned Austrian media company Russmedia which publishes two daily and six weekly newspapers and over 40 online portals. Its VOLmobil was Austria’s first mobile phone company.
Russmedia has a virtual monopoly of media in Vorarlberg, the Alpine state in western Austria. The company, which has 1,000 employees, principally in Austria, Germany, Poland, Romania and Hungary, is believed to have revenues of some €120m.
