{"id":43952,"date":"2018-07-09T00:00:00","date_gmt":"2018-07-08T22:00:00","guid":{"rendered":"https:\/\/techma.bakertilly.es\/lifull-co-adquiere-mitula-como-se-ha-valorado-la-operacion\/"},"modified":"2025-03-12T11:44:54","modified_gmt":"2025-03-12T10:44:54","slug":"analisis-de-inversion-en-el-sector-del-ocio-fever-y-solsona-comunicacion-2","status":"publish","type":"post","link":"https:\/\/techma.bakertilly.es\/en\/analisis-de-inversion-en-el-sector-del-ocio-fever-y-solsona-comunicacion-2\/","title":{"rendered":"LIFULL Co acquires Mitula - how was the deal valued?"},"content":{"rendered":"<p>We value from a corporate finance point of view, the investment made by LIFULL Co in acquiring Mitula Group, a digital classifieds group that operates vertical search sites and classified portals. The transaction took place on 9 May 2018.<\/p>\n<p>We value from a corporate finance point of view, the investment made by LIFULL Co in acquiring Mitula Group, a digital classifieds group that operates vertical search sites and classified portals. The transaction took place on 9 May 2018.<\/p>\n<h2>Mitula Group<\/h2>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.mitula.com\/\" target=\"_blank\" rel=\"noopener\">Mitula Group<\/a> is a digital classifieds group operating vertical search sites and classified portals, based in Madrid. It operates 110 sites covering real estate, automotive, jobs and fashion in 54 different countries and 21 different languages. In addition, it operates 10 property portals in SE Asian markets.<\/p>\n<p style=\"text-align: justify;\">Mitula is a company born and bred in Spain, but has been listed on the Australian stock market since 2015.<\/p>\n<p style=\"text-align: justify;\">The Mitula Group's vertical search functionality gives users of its websites the ability to search listings from multiple verticals, such as real estate, automotive, employment and, in some countries, vacation rentals, and obtain search results from multiple advertisers with one search query. With access to search results from multiple advertisers, users are offered a more convenient and efficient search experience than searching on a single advertiser's website.<\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"151\"><strong>Variable<\/strong><\/td>\n<td width=\"132\"><strong>2015<\/strong><\/td>\n<td width=\"142\"><strong>2016<\/strong><\/td>\n<td width=\"142\"><strong>2017<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"151\"><strong>Invoicing<\/strong><\/td>\n<td width=\"132\">20.568,035<\/td>\n<td width=\"142\">28.022,988<\/td>\n<td width=\"142\">33.595,067<\/td>\n<\/tr>\n<tr>\n<td width=\"151\"><strong>Ebitda<\/strong><\/td>\n<td width=\"132\">2.588,623<\/td>\n<td width=\"142\">8.173,723<\/td>\n<td width=\"142\">5.277,721<\/td>\n<\/tr>\n<tr>\n<td width=\"151\"><strong>Net financial debt<\/strong><\/td>\n<td width=\"132\">-21.002,933<\/td>\n<td width=\"142\">-20.462,205<\/td>\n<td width=\"142\">-13.140,802<\/td>\n<\/tr>\n<tr>\n<td width=\"151\"><strong>Investment<\/strong><\/td>\n<td width=\"132\">1,462<\/td>\n<td width=\"142\">1,462<\/td>\n<td width=\"142\">1,462<\/td>\n<\/tr>\n<tr>\n<td width=\"151\"><strong>Growth<\/strong><\/td>\n<td width=\"132\">92%<\/td>\n<td width=\"142\">36%<\/td>\n<td width=\"142\">20%<\/td>\n<\/tr>\n<tr>\n<td width=\"151\"><strong>Profitability<\/strong><\/td>\n<td width=\"132\">13%<\/td>\n<td width=\"142\">29%<\/td>\n<td width=\"142\">16%<\/td>\n<\/tr>\n<tr>\n<td width=\"151\"><strong>Solvency<\/strong><\/td>\n<td width=\"132\">-8,11%<\/td>\n<td width=\"142\">-2,5%<\/td>\n<td width=\"142\">-2,49%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Source: Yahoo Finance (in thousands).<\/p>\n<ul>\n<li>Investment = Var. Fixed Assets + Amort. Fixed Assets<\/li>\n<li>Growth = Var. Turnover<\/li>\n<li>Profitability = EBITDA \/ Turnover<\/li>\n<li>Solvency = Net Financial Debt \/ EBITDA<\/li>\n<\/ul>\n<table>\n<tbody>\n<tr>\n<td width=\"283\"><strong>Valuation multiples 2017<\/strong><\/td>\n<td width=\"283\"><strong>\u00a0<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"283\"><strong>Company value<\/strong><\/td>\n<td width=\"283\">135,49M<\/td>\n<\/tr>\n<tr>\n<td width=\"283\"><strong>EV\/Ebitda<\/strong><\/td>\n<td width=\"283\">12,57<\/td>\n<\/tr>\n<tr>\n<td width=\"283\"><strong>EV\/Sales<\/strong><\/td>\n<td width=\"283\">4,03<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2>LIFULL Co and the acquisition of Mitula<\/h2>\n<p style=\"text-align: justify;\">Australian digital classifieds company Mitula Group said on Wednesday that Japanese real estate portal <a href=\"https:\/\/lifull.com\/en\/\" target=\"_blank\" rel=\"noopener\">Lifull Co<\/a> agreed to buy the company for about $140M and merge it with the online classifieds unit Lifull.<\/p>\n<p style=\"text-align: justify;\">Mitula shareholders will receive 0.0753 Lifull shares for each share they own. This values Mitula at around A $ 0.8742 (Australian dollars) per share, a premium of around 95 percent, based on Wednesday's share close.<\/p>\n<p style=\"text-align: justify;\">Mitula said its board recommended that shareholders vote in favour of the deal, in the absence of a superior proposal.<\/p>\n<p style=\"text-align: justify;\">LIFULL Co., Ltd. es una compa\u00f1\u00eda que opera servicios de informaci\u00f3n inmobiliaria y de vivienda. Es el servicio de listado de informaci\u00f3n inmobiliaria y de vivienda m\u00e1s extenso. Fue establecido en 1997 con la aspiraci\u00f3n de cambiar la industria de bienes ra\u00edces. Su principal servicio es la operaci\u00f3n de LIFULL HOME&#8217;S, un sitio web que brinda informaci\u00f3n sobre bienes inmuebles y viviendas, que proporciona la biblioteca de informaci\u00f3n sobre propiedades m\u00e1s extensa de la industria en Jap\u00f3n. Adem\u00e1s de su enfoque en Mainstay Housing, LIFULL se ha expandido a \u00e1reas relacionadas como Cuidado de Enfermer\u00eda, Dise\u00f1o de Interiores y Seguros. El Grupo tambi\u00e9n est\u00e1 proporcionando activamente sus servicios en 57 pa\u00edses diferentes en todo el mundo.<\/p>\n<h2>Other investments in the classified sector<\/h2>\n<table>\n<tbody>\n<tr>\n<td width=\"85\"><strong>Company<\/strong><\/td>\n<td width=\"293\"><strong>Description<\/strong><\/td>\n<td width=\"38\"><strong>Country<\/strong><\/td>\n<td width=\"66\"><strong>Amount<\/strong><\/td>\n<td width=\"85\"><strong>Date<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"85\"><strong>Adzuna<\/strong><\/td>\n<td width=\"293\">Adzuna is an intelligent search engine for job advertisements.<\/td>\n<td width=\"38\">UK<\/td>\n<td width=\"66\">\u00a38M<\/td>\n<td width=\"85\">18\/05\/2018<\/td>\n<\/tr>\n<tr>\n<td width=\"85\"><strong>Carousell<\/strong><\/td>\n<td width=\"293\">Carousell is a Singapore-based consumer-to-consumer marketplace application for iOS and Android.<\/td>\n<td width=\"38\">Singapore<\/td>\n<td width=\"66\">$85M<\/td>\n<td width=\"85\">14\/05\/2018<\/td>\n<\/tr>\n<tr>\n<td width=\"85\"><strong>PatPat<\/strong><\/td>\n<td width=\"293\">PatPat is a shopping app for mums.<\/td>\n<td width=\"38\">USA. USA.<\/td>\n<td width=\"66\">$47,8M<\/td>\n<td width=\"85\">19\/04\/2018<\/td>\n<\/tr>\n<tr>\n<td width=\"85\"><strong>Floyd Design<\/strong><\/td>\n<td width=\"293\">Floyd Design is a new type of furniture company, primarily for urban living.<\/td>\n<td width=\"38\">USA. USA.<\/td>\n<td width=\"66\">$5,6M<\/td>\n<td width=\"85\">18\/01\/2018<\/td>\n<\/tr>\n<tr>\n<td width=\"85\"><strong>Yoti<\/strong><\/td>\n<td width=\"293\">Yoti is your digital identity application: the easiest and safest way to prove your identity online and in person.<\/td>\n<td width=\"38\">UK<\/td>\n<td width=\"66\">\u00a38M<\/td>\n<td width=\"85\">16\/01\/2018<\/td>\n<\/tr>\n<\/tbody>\n<\/table>","protected":false},"excerpt":{"rendered":"<p>Valoramos desde el punto de vista del corporate finance, la inversi\u00f3n realizada por LIFULL Co al adquirir Mitula Group, grupo de clasificados digitales que opera sitios de b\u00fasqueda vertical y portales clasificados. La operaci\u00f3n tuvo lugar el pasado 9 de mayo de 2018. Valoramos desde el punto de vista del corporate finance, la inversi\u00f3n realizada [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1751],"tags":[198,153,1251],"sectores":[],"tipo-contenido":[2260],"class_list":["post-43952","post","type-post","status-publish","format-standard","hentry","category-adquisiciones-mas-relevantes","tag-corporate-finance","tag-global-corporate-finance","tag-ocio","tipo-contenido-noticias"],"acf":[],"_links":{"self":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/posts\/43952","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/comments?post=43952"}],"version-history":[{"count":0,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/posts\/43952\/revisions"}],"wp:attachment":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/media?parent=43952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/categories?post=43952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/tags?post=43952"},{"taxonomy":"sectores","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/sectores?post=43952"},{"taxonomy":"tipo-contenido","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/tipo-contenido?post=43952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}