Mergers and Acquistions News
Categories: Media & Information Services, Software
June 27th 2011, 17:04PM
US deals website LivingSocial is planning further mergers and acquisitions after purchasing three daily offer websites.
The firm has purchased Indonesian sites Ensogo and DealKeren, as well as United Arab Emirates-based website GoNabit for an undisclosed fee.
Ensogo, which owns DealKeren, is the leading social deal site in Indonesia, Thailand and the Philippines, while GoNabit is the chief online daily deals site in four Middle Eastern countries.
Jake Maas, LivingSocial's senior vice president corporate and business development, revealed that the company is planning to make further acquisitions in the future in order to maintain its growth domestically and overseas.
He told Reuters: "Our strategy is to partner with and work with local teams who share the long-term vision of LivingSocial."
LivingSocial, based in Washington, now has around 39 million subscribers and 2,000 employees worldwide following these latest acquisitions. It expects to generate revenue of around $1 billion (£626 million) this year. 
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