Divestiture • Internet Software and Services

Nordstjernan Acquires PriceRunner

On March 31, 2016, family office Nordstjernan acquired internet software and services company PriceRunner from IAC

Acquisition Context
  • This is Nordstjernan’s 1st transaction in the Internet Software and Services sector.
  • This is Nordstjernan’s 11th transaction in Sweden.
Investment Fate
  • PriceRunner was sold to a consortium of financial buyers in 2020.
  • PriceRunner was sold to a strategic buyer in 2021.

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M&A Deal Summary

Date March 31, 2016
Target PriceRunner
Sector Internet Software and Services
Buyer(s) Nordstjernan
Sellers(s) IAC
Deal Type Divestiture

Target Company

PriceRunner

Stockholm, Sweden
PriceRunner is a provider of comparison shopping services in the Nordic region. It has businesses in Sweden, Denmark, Norway, and the United Kingdom and compares 3.4 million products from 22,500 retailers in 25 countries. The company is independent of all manufacturers, brands, and retailers with a mission is to help consumers to find the right products and the best deals. PriceRunner was formed in 1999 and is based in Stockholm, Sweden.
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Buyer Overview 1

Buyer

Nordstjernan

Investor Investor Investor Investor Investor


Category Family Office
Founded 1890
PE ASSETS 23.0B SEK
Size Large
Type Sector Agnostic
DESCRIPTION

Nordstjernan is a family-backed private investment firm focused on long-term investments and acquisitions of companies throughout Sweden. The Firm looks to commit SEK 500 million to SEK 3 billion in situations where ownership is looking for a new partner to help with organic growth, acquisitions, or other strategic changes. Areas of investment interest include industrial, trade, healthcare, construction, real estate, and technology. Nordstjernan was established in 1890 and is based in Stockholm.


Deal Context for Buyer #
Overall 15 of 27
Sector: Internet Software and Services 1 of 1
Type: Divestiture 1 of 1
Country: Sweden 11 of 21
Year: 2016 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-12 Dacke Industri

Helsingborg, Sweden

Dacke Industri invests in companies that develop customer-specific components and high-performance systems based on hydraulic, pneumatic, electric, and mechanical technology. The company focuses on serving OEM customers in energy, mobile, marine, and other industries. Dacke Industri is based in Helsingborg, Sweden.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-20 Bonava

Stockholm, Sweden

Bonava is a housing development company operating in Northern Europe. The company develops and sells housing units to consumers and investors in selected markets in Sweden, Germany, Finland, Denmark, Norway, St. Petersburg, Estonia, and Latvia. Bonava was founded in 2013 and is based in Stockholm, Sweden.

Buy -

Seller Profile 1

SELLER

IAC

New York, New York, United States

Category Company
Sector Digital Media
Employees8,300
Revenue 3.8B USD (2024)
DESCRIPTION

IAC is a media and Internet company focused in the core areas of search, applications, online dating, local and media. IAC's network of sites have over a billion total monthly visits in more than 100 countries. The company is headquartered in the Chelsea neighborhood of New York City with business operations and satellite offices around the world. IAC is based in New York, New York.


Deal Context for Seller #
Overall 14 of 20
Sector: Internet Software and Services 8 of 10
Type: Divestiture 7 of 10
Country: Sweden 1 of 1
Year: 2016 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-19 Match Group

Dallas, Texas, United States

Match Group is a provider of internet dating services including Match.com, PlentyofFish, OkCupid, and Tinder amongst other brands. Match Group was founded in 1986 and is based in Dallas, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-05 Shoebuy.com

Boston, Massachusetts, United States

Shoebuy.com, Inc. is an online retailer of footwear and accessories. Shoebuy has an inventory-free business model that relies on an integration of processes and data flow with over 200 manufacturers, which allows Shoebuy to feature 200,000 plus products on its site, with real time access to inventory availability, and to facilitate drop-ship of customer orders from manufacturers' warehouses directly to consumers.

Sell $70M