Naspers concludes acquisition of AutoTrader and merges it with OLX

South Africa's online automobile marketplace, AutoTrader, has officially merged with OLX Group. Both digital companies are owned by South African technology and media investment company, Naspers.

Earlier in September 2017, Naspers tabled its offer to acquire AutoTrader.

"We bring the expertise from the niche verticals of car, truck, commercial, agriculture, bike and leisure. We are excited to work with the OLX Group that is part of a global organisation. Our customers can stand to benefit substantially from investment in product innovation as a result” ” said George Mienie, CEO at AutoTrader.

With this merger, AutoTrader will becomes part of OLX's global business.

"South Africa is a very important market to us and we'll continue to invest and look for opportunities to grow and offer the best platform to our users. This is a very strategic deal for us, as we are now able to offer a complete range of platforms to our users - from the general C2C classifieds with OLX, to all specialized vertical platforms with Property24, Careers24 and now AutoTrader. We have tremendous respect for the business built by the AutoTrader team over the past decade. AutoTrader is recognized as the leading sub-Saharan platform for vehicles and we are excited to have its experience benefit our operations all over the world. We look forward to helping sellers of all vehicle types in the region grow the success of their businesses," said Sjoerd Nike lending, General Manager for Africa, Middle East and Asia at OLX Group.

AutoTrader turned 25 earlier in 2017, and recently ended the publication of its print magazine. Its website was started in 1998 and is among South Africa's most visited with approximately 4,5 million visits each month and 70,000 plus vehicle searches monthly.

“Our vehicle shoppers can look forward to continuous improvements driven by both entities that further enhance consumer experience through investment in online vehicle shopping tools” added Mienie.

Comments