Telegraaf Media Group acquires social network HYVES

Telegraaf Media Group has reached agreement to acquire 100% of the shares of social network Hyves.

This strategic acquisition reinforces TMG’s position as the largest multi media publisher in the Netherlands.

Social networks are an increasingly important role in the orientation and purchase process of consumers. That increases the attractiveness for advertisers.

Hyves is the social networking site in The Netherlands with mainly Dutch visitors and members. Hyves is comparable to American sites such as Facebook and MySpace.

Hyves was founded in 2004 and in May of 2010 Hyves had more than 10.3 million accounts, with growth of over two million members compared to the previous 1.5 years.

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