Sale of Tenderlink Business

31 October 2016:
Fairfax Media Limited [ASX:FXJ] (“Fairfax”) has sold its TenderLink business to Dun & Bradstreet Australia (“D&B”). 

TenderLink, established in 1994, is one of the largest online procurement communities in Australasia. TenderLink provides a central gateway for the advertisement and management of tenders, quotes and expressions of interests published by government, public and private sector procurers. 

TenderLink was acquired by Fairfax for A$14 million in 2010, and was operated as part of Fairfax’s Digital Ventures division. Inclusive of contribution to operating profits and sale proceeds, Fairfax has achieved a 2.3x return on investment. 

Fairfax’s Group Director of Digital Ventures, Guy Reypert, said: “TenderLink has significantly grown its footprint in the procurement sector over the last six years, with a particular focus on serving the procurement needs of local government. D&B is a natural owner of TenderLink, with the businesses having complementary capabilities. D&B is well placed strategically to provide new opportunities for TenderLink’s customers and employees.”