The merger agreement between the OLX Group and AutoTrader in South Africa has been approved by local authorities.
“We bring the expertise from the niche verticals of car, truck, commercial, agriculture, bike and leisure,” said AutoTrader CEO George Mienie. “Our customers can stand to benefit substantially from investment in product innovation as a result,” continued Mienie. “Our vehicle shoppers can look forward to continuous improvements driven by both entities that further enhance consumer experience through investment in online vehicle shopping tools” he adds.
The OLX Group operates a network of online trading platforms in over 40 countries. It builds market-leading classifieds marketplaces that empower millions of people to buy, sell and create prosperity in local communities.
“South Africa is a very important market to us and we'll continue to invest and look for opportunities to grow and offer the best platform to our users. This is a very strategic deal for us, as we are now able to offer a complete range of platforms to our users - from the general C2C classifieds with OLX, to all specialized vertical platforms with Property24, Careers24 and now AutoTrader,” said Sjoerd Nikkelen OLX Group General Manager for Africa, Middle East and Asia.
“We have tremendous respect for the business built by the AutoTrader team over the past decade. AutoTrader is recognized as the leading sub-Saharan platform for vehicles and we are excited to have its experience benefit our operations all over the world. We look forward to helping sellers of all vehicle types in the region grow the success of their businesses.”
AutoTrader now becomes part of a global organisation with four technology hubs and a strong drive to develop vertical platforms. The partnership demonstrates the intention of both companies to continuously invest in the country and improve their services.
Edited by G. Davila