eBay Acquires Sweden's Tradera.com
biz.yahoo.com
Monday April 24, 5:00 am ET
SAN JOSE, Calif. & STOCKHOLM, Sweden--(BUSINESS WIRE)--April 24, 2006--eBay (Nasdaq:EBAY) today announced that it has acquired Tradera.com, the leading online auction-style marketplace in Sweden. Together, the companies plan to expand online trading in Sweden and bring more opportunities to Swedish buyers and sellers.
Launched in 1999, Tradera.com enables auction-style trading for buyers and sellers throughout Sweden. Tradera.com has more than 750,000 listings at any given time and offers a venue where buyers and sellers can trade across an array of categories, from collectibles and home decor to antiques and electronics. eBay Sweden, focused on both auction-style and fixed-price trading, launched in April 2005.
"Tradera.com has built an impressive business in Sweden," said Philipp Justus, senior vice president and general manager of eBay Europe. "An e-commerce pioneer with a strong community focus, Tradera is a natural fit with eBay."
"Our partnership with eBay validates Tradera.com's success and position in the industry," said Jonas Nordlander, managing director of Tradera.com. "By joining forces, Tradera and eBay can help provide Swedish consumers with more opportunities to trade on a national and international basis."
Increasingly popular among Swedish consumers, online shopping is showing strong signs of growth. Business-to-consumer e-commerce in Sweden reached $4.8 billion in 2005, and that number is expected to grow to $15.7 billion in 2009, according to IDC's Internet Commerce Market Model, January 2006.
"We're excited to welcome Tradera.com to the eBay family," said Fredrik Ahlberg, managing director of eBay Sweden. "Tradera has helped pave the way for online trading in Sweden and we believe Tradera can help us create the best shopping experience for local buyers and sellers."
eBay has acquired all equity securities of Tradera.com for approximately 365 million Swedish Kronor, plus acquisition costs and an adjustment for net cash acquired. Based on an April 21, 2006 exchange rate of SEK7.56 to US$1.00, the net purchase amount approximates US$48 million. eBay does not expect the acquisition to have a material impact on its financial guidance as issued in connection with its first quarter earnings release on April 19, 2006.
Tradera's investors include Provider Funds and TIME Vision bpart AB.
About Tradera.com
Tradera.com was founded in 1999 and has grown to become the leading online auction site in Sweden. Tradera.com offers a marketplace for auctions including everything from collector's items such as watches and jewelry, to consumer goods such as computers, electronics and leisure gear. |
