Financial terms of the acquisition were not disclosed.
Populis says, despite not having a physical presence there, its Blogo network already generated over 2.6 million unique monthly users and 10 million pageviews in Brazil. The acquisition of Cidade Internet provides the online vertical media publisher with an extra two offices (in Rio de Janeiro and São Paulo) and will include an additional staff of 30 by the end of 2012.
Cidade Internet is one of Brazil’s oldest Web portals, providing information, entertainment and a variety of services to its users for over 12 years. By acquiring the company, Populis is adding a further 10 Web properties and an extensive vertical network to its Brazilian operations, which already includes blogs like FofocandoBlog, AutomovelBlog and DasmariasBlog.
All in all, Populis now owns and operates over 600 websites through its media brands Excite Europe, Blogo, Blogosfere, and Cidade Internet as well as 700,000 websites in the mokono network. Together, these properties drive over 35 million monthly unique users.