Web-based auctioneer eBay.com has agreed to acquire mobile.de, which claims to be one of the leading online classified advertising websites for vehicles in Germany.
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The acquisition, which is subject to regulatory approval in Germany and other conditions, is expected to be completed in the second quarter of 2004.
In a statement, eBay said the acquisition will allow its German operation to enhance its existing online sales system for vehicles with mobile.de’s complementary classifieds format. The combination of mobile.de and eBay will, the company claims, give sellers the ability to select the trading format that works best for them, while giving buyers more choice and convenience.
Mobile.de carries over 800,000 listings of cars, motorcycles, trucks and recreational vehicles and claims over 22 million “unique visitors” a month. It was founded in 1996 and later received partial funding from the private equity firm Granville Baird Capital Partners.
EBay will acquire all outstanding shares of mobile.de for about €121 million in cash, or about $US152 million, plus acquisition costs to be determined at the time the transaction is completed.
