Adevinta buys eBay Classifieds, creating world’s largest online ad group
Global online classifieds specialist Adevinta will acquire eBay Classifieds Group, eBay has announced. The combined group will be the world’s largest online advertisement company, with solid market positions across 20 markets, covering 1 billion people, and 3 billion monthly visits.
Listed on the Oslo stock exchange, Adevinta operates 35 digital products and websites across 15 countries. eBay Classifieds platforms include 12 brands across 13 countries, many including or specialised in used-vehicle sales, such as: Mobile.de, Gumtree, Marktplaats, DBA, Bilbasen, Kijiji, 2dehands, 2ememain, Vivanuncios, Automobile.it, Motors.co.uk, Autotrader (Australia), Carsguide (Australia), and eBay Kleinanzeigen.
The deal, which is expected to close in Q1 2021, is worth $9.2 billion, with eBay getting $2.5 billion in cash and the rest as a 44% ownership stake in Adevinta, making it the company’s largest shareholder. The new group targets annual synergies of up to $185 million within three years.
As part of the agreement, the Norwegian-based media and internet group Schibsted ASA, which was the majority shareholder of Adevinta, will acquire eBay Classifieds’ Danish entities, DBA.dk and Bilbasen.dk, once the deal closes.