A multinational conglomerate has signed a €1bn deal with Austrian e.mail marketing firm Amica E-mail to expand its presence in the country.
The deal will see Amica’s e-mails be delivered to more than 1 million customers in Austria and Switzerland.
The Austrian government says it will also pay Amica €100 million in compensation for the damage it caused to its reputation and brand, and will give Amica a 20% stake in the e-commerce company.
The government hopes that by selling its e-marketing operations to Amica, it will boost its market share in Austria, which is the second-largest e-service market in Europe after Germany.
The Amica deal will mark the first time a multinational corporation has purchased Austrian email advertising.
The first such deal was signed between Microsoft and Yahoo in 2010.
In its statement, Amica said the deal with Amica would help to “strengthen our digital marketing capabilities in Austria”, and would boost the company’s digital business growth.
The news comes just weeks after Amica announced that it had entered into an agreement to buy rival e-advertising firm Soma from French telecommunications giant Orange for €1 billion.