Daft Media, owner of leading property website Daft.ie, has announced the acquisition of a minority stake in Boards.ie for an undisclosed sum.
Boards.ie is Ireland's largest community website and attracts an audience of approximately one million monthly unique visitors.
There will be continued investment in the Boards.ie in order to maintain growth and seek out new audiences, according to Daft.
Over the longer term, both companies have committed to continue to provide an independent and neutral platform for Irish consumers to voice their opinions.
"We are very happy to welcome Daft on board as partners in Boards.ie," said Gerry Shanahan, Managing Director, Boards.ie.
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"This investment will give us the ability to invest further in infrastructure, to add more features to the website and ultimately provide an improved service to our community of users."
Commenting on the investment, Eamonn Fallon, CEO at Daft Media, said: "We strongly believe the future of media is online and Boards.ie is well positioned to be a leading player in Irish online media.
"Our combined audience is over 2.1 million unique viewers every month which is larger than most TV stations in Ireland. We are very happy to be working with the Boards.ie guys and look forward to helping them grow their business."
Daft Media is one of Ireland’s largest online media groups. Its flagship title, Daft.ie, is Ireland's largest property website.
In 2007, over €60 billion worth of Irish property was listed on the site. The latest audited report from ABCe (April 2008) shows traffic of 75 million page impressions and 974,595 unique users. Daft Media acquired Property.ie in March 2008.
Boards.ie is Ireland's largest community website that connects hundreds of thousands of Irish people of similar interests and gives them a platform to talk to each other.
It hosts online communities interested in a huge range of topics from GAA to fashion, from movies to DIY.
In July 2008, Boards.ie delivered 17 million page impressions to over 950,000 unique users.
(PR/JM)
