BMH Bräutigam & Partner Advises Covus on Joint Venture with ProSiebenSat.1
BMH Bräutigam & Partner has advised the Berlin entrepreneur Sven Lubek and his Covus Holding on the participation of ProSiebenSat.1 in the newly established Covus Ventures.
By founding Covus Ventures, a new and in Germany unique type of incubator for new digital business models has been created which will not only benefit from Covus’ experience and expertise in this field but which, through the cooperation with the ventures arm of ProSiebenSat.1, will also have easy access to TV advertising. The business of Covus Ventures will be led by Arnd Benninghoff, Chief Digital Office of ProSiebenSat.1, and Covus-founder Sven Lubek.
In the next few years, it is planned to create several strong online brands which can generate large profits through the synergy of E-Commerce and television. According to Dr. Christian Wegner, member of the management board of ProSiebenSat.1, Covus Ventures was founded in the strategically important city of Berlin, Europe’s leading place for start-ups and a hub for online technology firms. Through the founding of Covus Ventures, over 100 new jobs shall be created in Berlin.
BMH Bräutigam & Partner has already advised Covus last year on its cooperation with ProSiebenSat.1 in the games sector. In this transaction, ProSiebenSat.1 had acquired the majority in Covus Games, the operator of the gaming portal browsergames.de.
BMH Bräutigam & Partner has increased its activities in Berlin’s Startup Scene. By advising Sven Lubek on the sale of Covus Games to ProSiebenSat.1 and of Capital Games to Bob Mobile AG as well as advising the Berlin founder Marcus Seidel on the sale of Gutscheine.de to RTL, BMH Bräutigam & Partner has been involved in some of the most important deals of the scene in 2011.