Eniro Group AB (publ) today announces new initiatives as part of its ongoing strategic partnership with Azerion Group. These partnerships, covering cloud services and technology outsourcing as well as display advertising and monetization, aim to further accelerate Eniro's ongoing digital transformation, improve profitability and secure future growth. These initiatives are crucial and in line with the company's strategic focus on increased efficiency and improved profitability.
Eniro has entered into a strategic agreement that includes cloud-based infrastructure and outsourcing of parts of the technical department, which will increase stability, improve security and reduce costs. Azerion will provide services such as monitoring, performance optimization and security management to drive innovation and scalability.
Eniro's move to cloud solutions marks a leap into a new era - an era defined by agility, efficiency, and the power of Eniro's first-party data. With this shift, Eniro is no longer bound by the limitations of physical servers, rigid systems or outdated processes. Instead, we are leveraging the flexibility and innovation of the cloud to improve services, increase responsiveness and enable further scaling of operations.
This cloud services collaboration expands on the strategic partnership initiated in April 2024, where Eniro focused on improving operational efficiency within its IT environment. In addition to this new agreement, the collaboration has also generated previously unidentified savings and new revenue opportunities, making the journey to the cloud even more cost-effective.
A separate agreement has also been signed in display advertising, outsourcing the responsibility for programmatic ads on Eniro's and partner sites, which is expected to optimize revenues and reduce staff and technology related costs, while developing new ad formats and securing additional revenue streams.
The new agreements are expected to have a significant financial impact on Eniro overall, with annual savings totaling SEK 17.1 million at full implementation, of which SEK 12.9 million from cloud migration and SEK 4.2 million from display advertising. In addition, programmatic advertising revenues are expected to increase through economies of scale and greater technical capacity, enabling higher profitability and strengthening Eniro's market position.
"We are very proud to take a big step forward," said Hosni Teque-Omeirat, President and CEO of Eniro. "This is a natural continuation of our ongoing transformation journey and enables us to focus on our core business while ensuring efficient operations and technological innovation."
As with the first agreement, where the collaboration focuses on simplifying and optimizing Eniro's digital advertising, these new initiatives continue to strengthen Eniro's ability to lead innovation and increase profitability in a rapidly changing digital world to cement the company's role as a leading digital marketing solutions provider in the Nordics.
The agreements with Azerion are, as this cooperation is classified as a related party transaction, subject to approval by an Extraordinary General Meeting. Notice of the meeting will be sent out in a separate press release.
For more information, please contact:
Hosni Teque-Omeirat, President and CEO Eniro Group AB (publ)
Tel: +46 (0)70-225 18 77
E-mail: [email protected]
This information is information that Eniro Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 17.00 CET on October 18 2024.
Eniro exists for companies that want to achieve success and growth in their market. Today, Eniro optimizes the opportunity for companies to create local presence, searchability and marketing digitally. This makes Eniro an important partner for small and medium-sized companies. The company's clear goal is to give SMEs the same conditions and resources that large companies have access to. Eniro offers a platform that optimizes local marketing through intelligence, automation and streamlining of communication. In the digital landscape, Eniro partners with the largest media groups in the world.
Eniro Group AB (publ) is listed on Nasdaq Stockholm (ENRO) and operates in Sweden, Denmark, Finland and Norway. In 2023, the Eniro Group had sales of SEK 960 million and approximately 900 employees with headquarters in Stockholm. The group also includes Dynava, which offers customer service and answering services for major companies in the Nordic region, as well as directory assistance services.
Eniro Group AB