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Johannesburg - Naspers has bought a Brazilian e-commerce group for $342m, the media company said on Tuesday.
It had acquired 91% of the share capital of BuscaPe.com which would be funded from available resources, the company
said in a statement.
Headquartered in Sao Paulo, the BuscaPe group provides
e-commerce services in Latin America.
Its core business generates lead-referral revenues from
merchants and other listing providers, the statement said.
BuscaPe provides Latin America's with comparison shopping of
more than 100 portals and websites in Latin America, including
Microsoft, Globo and Abril, with over 10 million products and over 320 000 online and offline stores, Naspers said.
In recent years BuscaPe has acquired a competitor, Bondfaro.
"It also expanded with QueBarato, the leading free-classifieds network in Latin America. Electronic payments can be done with Pagamento Digital.
"In addition it has an affiliate advertising network named
Lomadee, an e-commerce research business, eBit, and a fraud risk
assessment service, FControl," Naspers said.
"BuscaPe gives us a fast-growing business in line with our
e-commerce focus," said Antonie Roux, head of internet at Naspers.
"It's a diversified internet platform: a whole spectrum of
business models within the e-commerce value chain across core Latin
American markets," he said.
E-commerce was one of the most promising areas of the internet,
he said.
"Through the acquisition of Allegro and Ricardo (Tradus),
Naspers built up considerable knowledge in this field."
According to Naspers, Latin America is of particular interest.
"The region is home to some 550 million people."
"Favourable demographics, rising disposable incomes,
underleveraged consumers and a less-penetrated internet market
provides a good investment backdrop," it said.
"After investments in Abril and Compera nTime, Naspers has
developed a good understanding of the fast-growing Brazilian
market. BuscaPe is one of the few established players in the
industry, and can grow further," Hein Brand, CEO of Naspers's
operations in Latin America, said.
- Sapa