Strategic Review to Unlock Shareholder Value
Summary by AI BETAClose X
The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of the domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 (as amended) ("UK MAR"). Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (DIRECTLY OR INDIRECTLY) IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.
FOR IMMEDIATE RELEASE
11 November 2025
Team Internet Group plc
("Team Internet" or the "Company" or the "Group")
Strategic Review Initiated to Unlock Shareholder Value
Team Internet Group Plc (AIM: TIG, OTCQX: TIGXF), the global internet company that generates recurring revenue from creating meaningful and successful connections: businesses to domains, brands to consumers, publishers to advertisers, today announces the initiation of a strategic review to unlock shareholder value and provides an update on market developments in its Search and Comparison segments.
Strategic Review: Accelerating Value Realisation
The Board believes that Team Internet's share price does not reflect the intrinsic value of its individual businesses, each of which is a leader in structurally growing digital markets. In recognition of this, and following a number of inbound approaches, the Group has initiated a strategic review to unlock the full value of its portfolio. We are in active discussions regarding the divestment or formation of strategic partnerships for substantially all parts of the business in separate transactions, each expected to highlight the distinct value of its market-leading platforms. The strategic review does not include soliciting an offer for the Company in accordance with the UK City Code on Takeovers and Mergers.
In our Domains, Identity & Software (DIS) segment, where discussions are most advanced, the Group has retained a Tier 1 financial adviser to assist the Board in exploring strategic options, including a divestment of the segment. Prospects and year-over-year financial performance in this business are strong and margins attractive and improving, so the Group is in a strong position to consider a range of options to maximise shareholder value. The Board is confident that the DIS business alone could command a valuation materially exceeding the Company's current market capitalisation.
Search Segment: Focus on Direct Advertiser and Commerce Media Model
The digital advertising landscape has undergone a rapid and material change since Team Internet's H1 2025 results were released on 1 September 2025, as Google materially completed the sunset of its AdSense for Domains (AFD) product earlier than anticipated. Furthermore, the introduction of Google's new Restricted Access Features (RAF) and Referrer Ad Creative (RAC) policies, while expected to create a healthier and more sustainable ecosystem, has delayed the ramp-up of Related Search on Content (RSOC).
While the transition to Google's new policies has temporarily moderated growth, Team Internet has already achieved over 200% sequential RSOC growth since H1, validating the strength of its technology and partner relationships. The Group is now accelerating the development of its direct-to-advertiser and commerce media activities and broadening its partnerships with alternative feed providers to ensure a more diversified and higher-margin business model.
Given this strategic pivot and the commencement of formal discussions with potential acquirers and strategic partners, the Group now expects to classify the Search segment as an asset held for sale as part of the ongoing strategic review.
Comparison segment update
As previously reported, during H1 this segment experienced significant challenges, while investing in international growth and customer experiences. The international businesses are now contributing to profitability and the proportion of international sales is increasing. This indicates that the strategic direction being taken will still lead to a significantly larger and more diversified Comparison business.
Outlook: Positioned for Double-Digit Growth from 2026
With the impact of recent changes in the Search environment now becoming more quantifiable, the Group has updated its forecasts and now expects to deliver for 2025:
· Group Adjusted EBITDA of $40-45 million (2024: $92 million), with
o DIS contributing $21-22 million (2024: $19 million);
o Comparison contributing $11-13 million (2024: $16 million); and
o Search contributing $8-10 million (2024: $57 million) reflecting the structural transition.
From 2026 onwards, Team Internet expects to return to sustainable double-digit earnings growth under the current group structure, driven by the continued momentum in DIS, the recovery of Comparison, and the future scaling of RSOC and commerce media in Search. The Group remains highly profitable and cash-generative.
CEO Comment
Michael Riedl, CEO of Team Internet, commented:
"One year after initiating a comprehensive review of Team Internet's asset ownership, we are now taking the logical next step: a strategic review aimed at unlocking the full value of our portfolio. Each of our businesses operates in structurally attractive markets, and we believe the sum of their parts is worth considerably more than the Group's current market valuation.
The recent developments in Google's advertising ecosystem have affirmed our decision to reshape the Search segment. While we continue to firmly believe in the long-term prospects of our partnership with Google and the RSOC product, the near-term changes to the AFD framework and new policies such as RAF and RAC have brought forward the need to pivot our strategy. We are now focusing the business more on our captive direct-to-advertiser and commerce media operations and on partnerships with alternative feed providers.
We are now assessing a range of transactions that are poised to unlock significant shareholder value. Any such steps would streamline the Group and create significant optionality with regards to capital allocation.
Whatever the outcome of the review, Team Internet will remain a disciplined, cash-generative platform built on data, technology, and trusted digital relationships. The combination of resilient performance in DIS, improving trends in Comparison, and the structural evolution of Search gives me confidence that the businesses all have strong outlooks for 2026 either within or outside the Group."
Enquiries
For further information, please contact:
Team Internet Group plc +44 (0) 203 388 0600
Michael Riedl, Chief Executive Officer
William Green, Chief Financial Officer
Zeus Capital Limited (NOMAD and Joint Broker)
James Edis / Dan Bate (Investment Banking) +44 (0) 161 831 1512
Dominic King (Corporate Broking) +44 (0) 203 829 5000
Berenberg (Joint Broker) +44 (0) 203 207 7800
Mark Whitmore / Richard Andrews
SEC Newgate (for media) +44 (0) 203 757 6880
Bob Huxford / Harry Handyside / Gwen Samuel teaminternet@secnewgate.co.uk
About Team Internet Group plc
Team Internet (AIM: TIG, OTCQX: TIGXF) creates meaningful and successful connections from businesses to domains, brands to consumers, publishers to advertisers, enabling everyone to realise their digital ambitions. The Company is a leading global internet solutions company that operates in two highly attractive markets: domain name management, identity and software solutions (DIS segment) and high-growth digital advertising (Comparison and Search segments). The DIS segment is a critical constituent of the global online presence and productivity tool ecosystem, where the Company serves as the primary distribution channel for a wide range of digital products. The Company's Comparison and Search segments create privacy-safe and AI-generated online consumer journeys that convert general interest online media users into confident high conviction consumers through advertorial and review websites. The Company's high-quality earnings come from subscription recurring revenues in the DIS segment and revenue share on rolling utility-style contracts in the Comparison and Search segments.
For more information please visit: www.teaminternet.com
Forward-Looking Statements
This document includes forward-looking statements. Whilst these forward-looking statements are made in good faith, they are based upon the information available to Team Internet at the date of this document and upon current expectations, projections, market conditions and assumptions about future events. These forward-looking statements are subject to risks, uncertainties and assumptions about the Group and should be treated with an appropriate degree of caution.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 2 days ago Close Brothers Group
- 2 days ago Savannah Energy
- 2 days ago Mid Wynd International Inv Trust
- 2 days ago Dillistone Group
- 2 days ago SSP Group