1.6x, 15% IRR
Media & communications
Digital media distribution service
Image.net was an online distribution service for digital assets to the media.
Palamon invested with the conviction that Image.net had the potential to become the unique hub for the distribution of publicity assets to the world’s media.
During Palamon’s ownership, Imagenet’s revenue grew more than eight-fold and number of unique users increased by 58%. From a new, highly advanced and robust technology infrastructure it was the world market leader in its specialist field.
In 2004 Palamon sold its interest to Getty Images for €13.8 million, equating to a 15% IRR and 1.6x invested capital.
“Palamon only invests in businesses it really understands and believes in. This belief and understanding is carried forward in the way that Palamon supports and challenges the business and its management to build real value.”
Simon Cox, CEO of Imagenet London, UK