REG - Team Internet Group - Strategic Review to Unlock Shareholder Value

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RNS Number : 9608G  Team Internet Group PLC  11 November 2025

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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
(http://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.

 

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