XING announced the acquisition of amiando, a Munich-based provider of online event management and ticketing services in Europe. The company has organized and processed some 100,000 events through its platform since 2009. The acquisition price comprises a number of components. XING AG will initially pay EUR 5.1 million, followed by an additional payment of up to EUR 5.25 million on March 31, 2013, if various conditions are met.
amiando's tools manage invitations, promote events online, handle the event registration process, host integrated billing services, and manage event entry. All of the tools are available online, can be used straight away, and do not require any form of software installation.
amiando has a staff of 35, all of whom will retain their jobs. Felix Haas will continue in his position as CEO at amiando.