Eniro buys Danish search company

Swedish search company Eniro has bought Danish firm Krak for 500 million kronor ($70 million). According to Eniro, Krak presides over one of the five largest websites in Denmark.

Eniro estimates economies of scope to result in savings of 25 million kronor in 2008 and 37 million kronor in 2009 following the merger with Krak.

The merger is however expected to generate a slightly negative result in 2007, according to a statement from Eniro.