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The privatization of Telecom Italia followed in October that same year, giving that company a market value of L 24 trillion. Seat had not been idle while it waited for its ownership structure to be sorted out. The company had been quick to recognize the growing importance of the Internet and other alternative delivery vehicles, such as CD-ROMs, in the mids. The company placed its Pagine Gialle online in That service enabled the company to broaden into the portal market, with the acquisition of web-services group Matrix and the launch of Virgilio.

That site quickly became the Italian market's largest Internet portal and helped Seat gain a more than 70 percent share of all of the country's Internet advertising spending. Seat reported its first full year of revenues in , topping L 1. By then, Seat had begun to prepare for further growth.

In , the company absorbed its holding company, renaming itself Seat Pagine Gialle S. Seat then began to expand its operations. In that year it acquired a stake in the Buffetti office supply retail chain, in part to expand the company's electronic commerce offerings. After acquiring Buffetti, Seat turned to the Internet provider market, buying up a controlling stake in McLink. At the beginning of , the company added Kompass Italia, part of Kompass International, in keeping with its strategy to boost B2B operations.

The company also raised its stake in Buffetti to more than 92 percent in a friendly takeover. By the end of , however, Seat had transformed itself into one of Italy's most powerful multi-platform media players. That transformation took place with the merger of Seat with Telecom Italia's Internet service provider Tin. The deeper pockets of the newly enlarged Seat enabled it to go on a shopping spree, as the company sought to boost a number of existing operations and expand into new territory.

Following the purchase--which was at first blocked by the Italian government--Seat relaunched its television subsidiary as La 7 and its two stations as news-oriented La 7 and MTV Italia. Other important acquisitions that year included the Thomson Directory publisher TDL Infomedia of the United Kingdom and Germany's telegate, one of Europe's leading directory assistance companies, based in Germany.

Seat attempted to acquire its Swedish telephone directory counterpart Eniro in , but the offer of some EUR 3 billion was rejected by Eniro's parent Telia.

Instead, Seat went shopping in the United States, coming up with NetCreations, an email marketing company. The company also took a controlling share of French marketer Consodata. The company's losses continued through , forcing the company to restructure its operations and adopt a number of new strategic objectives.

Among these was a streamlining of its core operations, with planned sales of parts of its Business Information and B2B Internet divisions, its holding in Italian satellite television provider Viasat, and various other Internet-related interests. At the same time, the company announced a series of cost-cutting initiatives, such as the creation of a centralized purchasing system and the reduction of its subsidiaries from to just 75, including a reduction of its Internet-related businesses from 32 to just five.

Seat also moved to reduce staff, cutting out half of its Internet-related payroll. These moves, to be carried out during , were expected to return the company to profitability by Seat also began a revamp of its television broadcasting unit, including the launch of more competitive programming, to bring that subsidiary into profitability by Seat Pagine Gialle had nonetheless successfully transformed itself from a publisher of television directories into a multi-platform and Internet-ready media company for the 21st century.

Principal Subsidiaries: Euredit S. France ; Gialle Voice S. James Press, As consumers, we often take for granted all the hard work that goes into building a great company. We see them around but we don't know what goes on behind the scenes. Finally, we can read about how these great companies came about with Company Histories. Copyright c Company-Histories. All rights reserved. Privacy Policy. Quick search. Company Histories As consumers, we often take for granted all the hard work that goes into building a great company.



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