Knado, Inc.
Life & ART Group, Inc. acquired Worlwide Events Sports & Travel GmbH
Life & ART Group, Inc. / Acquisition Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Worldwide Events Sports and Travel GmbH, a leading travel agent in the international sports and event travel business, is to be acquired by the American investment company Life & ART Group, Inc. located in Delaware in the amount of EUR 1,000,000.--. The business is among the largest travel agencies specialized on the profitable segment Sports and Event Travel and one of the fastest growing online travel agencies in Germany. To the customers of Worldwide Events Sports and Travel GmbH one can count a number of leading teams in Germany out of various kinds of sports. Worldwide Events Sports and Travel GmbH is expecting to turnover EUR 2,100,000.-- with an EBIT of EUR 240,000.-- for the year 2008. Worldwide Events Sports and Travel GmbH is managed by Karl Gladeck and Andreas Spindler, both of which are committed to building the business long term. According to Karl Gladeck the market potential for Worldwide Events Sports and Travel GmbH in this market segment is substantial based on the unique technology which has been implemented during the last few years. 'This is a business that is showing significant growth potential. With further capital investment Worldwide Events Sports and Travel GmbH will be able to accelerate the growth in the profitable segment 'Sports-Travel' as well as further expannd and develop its online technology.' Life & ART Group, Inc. estimates that a combination of factors will increase the value of the business. The market will drive demand for the online services offered by companies such as Worldwide Events Sports and Travel GmbH. Michael Peter, CEO of Life & ART Group Inc, added: 'There are significant opportunities to expand the business in Germany where we are experiencing increasing demand of a combination of online travel bookings and personal service beyond call-centre level. With the support of an informed investor such as Life & ART Group, Inc. we can now take our already proven model to a new level of development.' Life & ART Group, Inc. is actively looking for further acquisitions and merger opportunities in the German European Travel sector. According to Michael Peter, a further consolidation in the industry will drive long term double digit profit growth. Life & ART Group, Inc. is specialized in investing in small companies as well as private equity investments. The company is listed on the Frankfurt and Berlin Stock Exchange and in the XETRA Market. WKN: A0KDUJ ISIN: US5317421049 Symbol: L8A.FST eMail: usa@lifeandartgroup.com Internet: www.lifeandartgroup.com DGAP 22.06.2007 ----------------------------------------------------------------------
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