Swiss advertising sales company Goldbach Group has sold its 67% stake in internet TV platform Wilmaa to Thomas Gabathuler.
The founder and managing director of Wilmaa who previously held 33% of the shares will thereby become the sole shareholder. Financial details of the transaction were not disclosed.
Goldbach wants to focus on its core competencies as a sales house and in the agency business, according to a statement. The move would also enable to company to act in the market as a neutral advertising aggregator.
WilmaaGabathuler now intends to push on the further expansion of the internet TV platform and its offerings. As part of a long-term cooperation, Goldbach will continue handle advertising sales for Wilmaa.
Goldbach entered the platform as a 50% shareholder in January 2009. Like its local rival Zattoo, Wilmaa offers live-streams of TV channels as a free-of-charge, advertising-financed OTT service.
In contrast to Zattoo, Wilmaa is not available outside Switzerland.