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Apax Partners is ready to acquire Trader Auto

Apax Partners agreed to purchase Trader Auto from Canadian directories Yellow Media Group Inc. worth $ 763 million in cash. They revealed this plan on Friday. One of the most promising units of Trader Corp. is AutoTrader.ca, websites that provide online services for the automotive industry. In addition there are Dealer Dot Com, Inc. one of the online market for the industry.

“This is a very exciting online opportunity in a sector that Apax knows very well thanks to our existing investments in Trader Media Group in the UK, Bankrate in the U.S. and SouFun in China,” said Mitch Truwit, partner at Apax.  “We will use this expertise to work with the management of Trader Auto and invest in the heritage AutoTrader brand to realise its full potential and allow it to enhance its leadership position. We also look forward to partnering with the founders of Dealer Dot Com and to supporting the business on its strong growth trajectory,” Mitch Truwit added.

Apax is a company based in London. They are known often to invest in the media sector. Apax and Guardian Media Group (GMG), is a co-owner Trader Media Group, which based in London. The purchase of Trader Auto by Apax Partners is expected to further expand their business networks. And it can make them one of the best online services companies in the world.

Short URL: http://www.usnews9.com/?p=6751

Posted by on Apr 19 2011. Filed under Business. You can follow any responses to this entry through the RSS 2.0. Responses are currently closed, but you can trackback from your own site.
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