Netmedia to go on acquisition spree following IPO

The majority of the funds will be designated for developing activities in three of its basic e-commerce segments: real-estate, tourism and loans. The bulk of the funds collected will be designated for acquisitions. "We are in talks with several entities. Acquisitions will take place mostly in the tourism and real-estate intermediation sectors. The first transaction might be concluded by the end of the year," said Andrzej Wierzba, president of Netmedia. In 2006 the company is planning to post a profit of zl.800,000 on revenues of zl.2.7 million, while next year the figures are likely to increase to zl.1.5 million and zl.4 million respectively. (Puls Biznesu, p.10) M.M.