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Mail.ru Co-Owner Naspers Acquires Hungarian Online Auction Site Vatera.hu

Files under: News
Posted by: Quintura @ 15:34 [5. 10. 08]

The Hungarian online auction site Vatera.hu has been acquired by a principal shareholder of the leading Russian web portal Mail.ru in one of the biggest financial deals in Hungarian Internet history, the financial news site Portfolio.hu reported. Mail.ru recently postponed its London-based IPO until 2009 after Digital Sky Technologies obtained a majority stake in the company in a deal that valued Mail.ru at $2 billion.

MIH Group, the online arm of the South African media and Internet group Naspers, which owns 32.6% of Mail.ru, acquired Vatera.hu for HUF 1.5 billion ($9 million). The online auction site Vatera.hu, which has over 0.6 million registered users, reported turnover of over $40 million in 2007.

Update: As a result of the acquisition, private equity firm iEurope Capital exited Vatera.hu. The firm announced that the transaction generated a gross IRR of 59% and a gross cash-on-cash return of 13.5 times for iEurope Fund.

Naspers reported that it paid $23 million for 100% of Vatera.hu.

In 2007, Naspers acquired the pan-European online auction business Tradus (the QXL Ricardo brand in the UK and Germany and the Allegro brand in Poland and Eastern Europe) for some $2 billion. The company also bough out the leading Polish instant messaging service Gadu Gadu for $155 million. Being one of the most active investors in emerging Internet economies, Naspers owns 35.5% in the leading Chinese instant messaging business Tencent (QQ) and 30% in Brazilian magazine and web publisher Abril.

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One Response to «Mail.ru Co-Owner Naspers Acquires Hungarian Online Auction Site Vatera.hu»

  1. 1 sud-africanii, buni si la internet nu doar la bere « [media_details] Quintura @ 15:34 [5. 10. 08]

    [...] Mail.ru Co-Owner Acquires Hungarian Online Auction Site [>>] Leading online auction site Vatera.hu sold to South African media firm [...]