Hamburg, Germany – Xing, a European social network for
business professionals, announced on Thursday that it has acquired Amiando, a
provider of online event management and ticketing services in Europe.
Terms of
the deal include an upfront payment of $6.74 million, plus another $6.94
million if certain targets are achieved by 2013.
Munich-based Amiando handled
100,000 events in 2009; Xing says its members organized more than 150,000
events via its service last year.
Hamburg-based Xing currently counts more than
10 million members.
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