next car exchange acquisition

Filed in archive Venture Capital on December 11, 2003

I was reporting some weeks ago about mobile.de, due to be sold. It's only competitor Autoscout24.de has now been acquired by T-Online<.

T-online actually buys the parent company, Switzerland based Scout24 AG that maintains several internet portals including dating and real estate. Scout24 AG had forecasted revenues of � 70 million in 2004 and positive EBITDA figures. It plans to achieve �65 million in revenue 2003. T-Online will pay �180 million in cash or 2.5 times the 2004 revenues, that's quite an offer, considering the valuation for mobile.de.