Axel Springer Buys 20% of Privacy-Focused Search Site Qwant
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Axel Springer SE, the German publisher leading a campaign to curb Google Inc.’s influence in Europe, acquired a 20 percent stake in Qwant, a Paris-based search engine that focuses on data privacy.
Axel Springer, based in Berlin, said today it made the purchase through its Digital Ventures unit. The investment of about 5 million euros ($6.8 million) helps Qwant develop new features such as encrypted e-mail and introduce its site in more countries, co-Chief Executive Officer Jean Manuel Rozan said.