SCM Spain signs agreement to acquire Milanuncios



Schibsted Classified Media Spain (SCM Spain) agrees to acquire Milanuncios, one of the top generalist online classifieds companies in Spain. After closing the deal SCM Spain will take full control of Milanuncios' operations.

Proceeds are EUR 50 million in cash, and Milanuncios founder will be incorporated as minority shareholder with 10% of the shares in the combined SCM Spain.

"Schibsted has the aim of taking an active role in consolidation in online classifieds. Today we are delighted to announce that we have acquired the Spanish online classifieds site Milanuncios.com, which over the last few years has gained popularity in Spain. This reinforces our position as a clear leader in the Spanish online classifieds market, and enables us to deliver a broad range of great services to our Spanish users and advertisers," says CEO Rolv Erik Ryssdal.

Milanuncios will operate as an independent portal and brand inside SCM Spain's portfolio, benefiting from the Group's synergies and strong innovation. Segundamano (SCM Spain's actual generalist online classifieds portal) will also operate independently. Both sites will continue with their current business models, allowing individual users to publish classified advertisements for free.

SCM Spain aim is to always offer the highest value and the best experience to the users and customers of both portals, by creating synergies, implementing high quality standards and increasing cross-site traffic. Segundamano and Milanuncios are key in developing SCM Spain's vision to create better understanding and social acceptance of the second hand market.

"Incorporating Milanuncios.com to our ecosystem of innovative portals will allow us to follow our growth strategy and develop this category in the Spanish market. Learning from each other and sharing best practices, together with our worldwide expertise accumulated during the past 20 years of digital transformation, will enable us to continue creating value and improving our service for users and clients", says Frode Nordseth, CEO of Schibsted Classified Media Spain.

SCM Spain is the most diversified classified media group in the Spanish market, thanks to its six portals and more than 70 million visits per month. Today Milanuncios.com has 17 million users and more than 60 million visits per month (Figures audited by OJD).

With this acquisition, SCM Spain operates in the following online classifieds sites:

- Segundamano.es, a generalist site. 30 million visits/month

- Coches.net, car site. 9 million visits/month

- Fotocasa.es, real estate. 12 million visits/month

- InfoJobs.net, employment offers. 22 million visits/month

- Milanuncios.com, a generalist site. 60 million visits/month

For more information:

Frode Nordseth, CEO SCM Spain: 0034 647473728 (mobile)

 

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Published: 2/13/2014 6:37 AM
Last updated: 2/13/2014 7:13 AM