Australian microcap The Market Herald (TMH), best known for owning the HotCopper market forum, has announced an $87 million acquisition of online classifieds brands Gumtree, Carsguide and Autotrader.
The move comes two years after former Gumtree owner eBay offloaded its portfolio of classifieds businesses to Adevinta for US$9 billion.
To fund the purchase, the business and finance media platform has entered into a vendor loan of approximately $60 million with Adevinta.
The deal will see TMH enter the second hand cars and goods markets for the first time, adding the websites to its digital business news, business communities and investor relations platforms.