Fairfax Media Limited
(ASX:FXJ) has announced it has sold its TenderLink business to Dun & Bradstreet Australia.
TenderLink is one of the largest online procurement communities in Australasia.
Fairfax initially acquired TenderLink in 2010 for $14 million.
Inclusive of contribution to operating costs and sale proceeds, Fairfax has indicated it has achieved a 2.3 times return on investment.
Fairfax Media Limited reported a net loss of $883 million at 30 June 2016.
