With 13.87 million fee-based customer contracts and 31.44 million ad-financed free accounts, United Internet is Europe’s leading internet specialist. It is listed in the Prime Standard of the Frankfurt Stock Exchange and is a member of the German stock index, TecDAX, which includes the 30 largest German companies from the technology sector.
Under the terms of the partnership agreement, United Internet is investing a total of €435 million for a 10.7% stake in Rocket. The investment consists of €333 million in cash and €102 million represented by United Internet’s equity participation in the portfolio of Global Founders Capital funds.
Global Founders Capital is a portfolio of over 50 venture capital investments held jointly by United Internet and Global Founders Fund GmbH, the personal investment vehicle of Oliver Samwer and his brothers.
As part of this transaction, the equity participation of Global Founders Fund in Global Founders Capital, valued at €153 million, will also be contributed into Rocket in exchange for new shares, which will bring Global Founders Fund’s stake in Rocket to 53.7%.
The total value of the new funds invested and the Global Founders Capital portfolio is €588 million. The investment and contributions imply a €4.3 billion post-transaction valuation for Rocket.
Following this investment, PLDT’s resultant ownership in Rocket will be 8.6%, with the balance held by United Internet (10.7%), Investment AB Kinnevik (18.5%), Access Industries (8.5%), and the Global Founders Fund (53.7%).