DGAP-News: Scout24 AG / Key word(s): Takeover
Scout24 AG: AutoScout24 acquires Austrian digital marketplace for automotive Gebrauchtwagen.at
Berlin/Munich, 23 August 2017 - Yesterday, AutoScout24 GmbH, Munich ("AutoScout24"), a subsidiary of Scout24 AG and a leading European operator of digital marketplaces specialising in the automotive sector, has acquired all shares of Gebrauchtwagen.at Internetportale GmbH, Leibnitz ("Gebrauchtwagen.at").
"This acquisition not only secures us the brand name Gebrauchtwagen.at but also provides us access to an even larger dealer and user base in Austria. As a result, we are further expanding the leading position of AutoScout24 across Europe. Gebrauchtwagen.at is highly profitable and excellently matches our defined growth strategy, " said Christian Gisy, CFO of Scout24 AG.
Austria is the only core market besides Germany, where Scout24 is present with both digital marketplaces for automotive and real estate. " While pursuing our OneScout approach, we can tap into further revenue potential by leveraging revenue synergies between our digital marketplaces, for example in the area of display advertising. This makes Austria an attractive country market for us", Gisy added.
The acquisition was valued on the basis of common market multiples and was completed yesterday, 22 August 2017 ("Closing"). The purchase price is fully paid in cash. The Gebrauchtwagen.at business will be consolidated into the Scout24 Group beginning from the time of the closing. The Management Board of Scout24 AG expects the transaction to have a positive effect on the ordinary operating EBITDA margin of the AutoScout24 segment. The acquisition of Gebrauchtwagen.at does not have a material impact on the leverage ratio of Scout24 Group.
"We are excited about this expansion of our business. As a result, our overall traffic in Austria on the digital automotive marketplaces will nearly double with the new acquisition. Gebrauchtwagen.at is highly popular among users and car dealers and the brand and offering will remain present in the market", said Christian Nowak, Managing Director of AutoScout24 GmbH, Vienna.
The acquisition of Gebrauchtwagen.at is the second major takeover by the Scout24 Group in the area of digital marketplaces in the automotive sector in Europe. In February 2016, the Group acquired the Dutch automotive classifieds portal European AutoTrader B.V. and fully integrated it into the existing business of AutoScout24 Netherlands. AutoScout24 is active in eight European countries with leading positions in Italy, Austria and the Benelux region.
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