Getupdated confirms intent to divest its shares in MediaAnalys, in spite of prolonged process

Getupdated announced in April a letter of intent to sell all of its 51 per cent in MediaAnalys AB back to the company's founders, who presently own the remaining shares. The process to sell the shares in the company has been prolonged, and no final date for the process can be announced. However, both parties today confirm their intent to proceed with the announced plan.

"These matters always tend to take longer than planned. However, we are under no immediate time pressure, as the company is developing well just as we anticipated. We still intend to sell our share and expect to do so as planned", comments Getupdated CEO Paul Yates.

MediaAnalys has been a subsidiary to Getupdated since 2007. Getupdated has owned 51 per cent of the shares, whilst the rest has been owned by the founders of MediaAnalys. The final agreement will be subject to approval at a shareholders' meeting. The buyer is a group of investors led by two of the founders of MediaAnalys, Henrik Zobal and Marcus Beckman.