Monday, March 21, 2016

H & M’s CEO buys the digital profit machine – Business Week

The site makes profits of hundreds of millions, and now chooses the Swedes to buy it.

comparison service Pricerunner bought by NS Intressenter, a company operated by H & amp; M’s CEO Karl-Johan Persson and Nicklas Storåkers with Nordstjernan. The price has not been announced, but according to sources Breakit talking about around 1 billion.

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in connection with the deal, Nicklas Storåkers go in as president of Pricerunner. Storåkers has previously been CEO of Avanza Bank between 1999 and 2011.

It has previously been media reports that Pricerunner was for sale when the US IAC wanted to sell the service. A potential buyer who pointed out the Bonniers but it is now becoming thus NS Stakeholders who lays hands on the price comparison site.

Pricerunner is a real profit center with a turnover of SEK 250 million last year and a profit of around SEK 100 million .

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