Autovit.ro sold to MIH Allegro BV, European subsidiary of Naspers South Africa

This is the only confirmed news 🙂

Visual Soft SRL the company that owns and operates Autovit.ro, the biggest auto classiffieds website in Romania was sold to MIH Allegro BV, European subsidiary of Naspers South Africa.

One thing I don’t appreciate in Romania is the journalism spreading unnacurate and false information. There was an article yesterday in a financial magazine that stated 5 mil EUR in the title and 4,7 mil EUR in the content.

No one bothered to notice the 300 k difference that raised the credibility of the article. Everyone rushed to copy the news without asking and checking the source so I could notice a lot of spam posts on blogs and on news.

The polish company MIH Allegro BV did not confirm the transaction and one of the owners of Visual Soft stated that the details of the transaction are confidential.

Autovit.ro as the most visited auto classifieds website in Romania was no.1 on the wanted list of aquisitions for several local and international companies and media groups. The website (848.342 unique users in October 2009) was a clear and consolidated leader on its niche, with no serious competitor managing to monetize the announcements. Of course, the business also had an offline component (a second-hand auto fair in Bucharest) and this is why it will be very interesting to find out the details of the contract and of the aquisition since the offline fair played a significant role in the expansion of the website in this market.

Naspers is a leading multinational media group, incorporated in 1915 as a public limited liability company and listed on the Johannesburg Stock Exchange (JSE) in September 1994. The company also has an ADR listing on the London Stock Exchange (LSE).

Over the past two decades the group has evolved from a traditional print media business in one country, to a broad-based e-media company in multiple markets.

The group’s principal operations are in internet platforms (focussing on commerce, communities, content, communication and games), pay-television and the provision of related technologies and print media (including publishing, distribution and printing of magazines, newspapers and books). Most of Naspers’s businesses hold leading market positions.

The group’s most significant operations are located in South Africa and elsewhere in sub-Saharan Africa, China, Russia, Eastern Europe, the Netherlands, India, Brazil and Thailand.