AutoScout24 expands with acquisition to Canada
AutoScout24, the leading European car classifieds platform, is expanding its reach by acquiring Trader Corporation, Canada's leading online automotive marketplace operator. AutoScout24 is buying the operator of AutoTrader.ca and AutoHebdo.net from private equity firm Thoma Bravo, the companies announced.
The English and French-language portals combined attract around 26 million monthly visits and have over 5,000 dealer partners listing more than 450,000 car ads. Trader Corp operates Canada's leading online automotive marketplaces and also offers dealer software and financing solutions under the "AutoSync" brand.
The purchase price was not disclosed. However, the companies said that Hellman & Friedman (H&F), which acquired AutoScout24 in 2020, will significantly increase the company's capitalization to fund the deal.
"H&F's additional equity investment in this transaction underscores our long-term vision to build the leading global platform for automotive classifieds," said Blake Kleinman, partner at the California-based investor. AutoScout24 was originally part of Scout24, but was sold to Hellman & Friedman for €2.8 billion in 2017.
The following is the list of synchronization functions included in AutoSync, the dealer software offered by Trader Corp. This acquisition by AutoScout24 will fuel its efforts to become the leading global platform for automotive classifieds.
