iCar Asia acquires another auto website

  • Agrees to buy DQBP, proprietor and operator of LiveLifeDrive.com
  • Says acquisition similarly strengthens its foothold in Malaysian marketplace

iCar Asia acquires another auto websiteASX-indexed iCar Asia Limited, which claims to very own Asean’s No 1 community of automobile portals, introduced it has entered into an agreement to collect DQBP Sdn Bhd, proprietor and operator of LiveLifeDrive.com.
 
LiveLifeDrive.com is Malaysia’s fastest developing automobile website, iCar stated in a assertion, having grown over four hundred% via 2012 to approximately 272,000 specific visitors in November, in step with Effective Measure.
 
The website affords great coverage and reviews of latest automobiles in Malaysia. The acquisition further strengthens iCar Asia’s foothold in the Malaysian market as it keeps to grow its reach and offerings, the business enterprise stated.
 
“Combining our leading classifieds website, Carlist.my, with LiveLifeDrive.com will create the clear No 1 website in Malaysia for people searching to buy or promote new or used cars,” said iCar Asia leader executive officer Damon Rielly (p.c).
 
“I am also very excited to have the team from LiveLifeDrive.com be a part of iCar Asia and to work with them to supply consequences thru 2013,” he introduced.
 
UPDATE: In a separate declaration posted on its website, iCar Asia said the attention for the acquisition is up to RM6.five million (A$2 million). The first RM1.7 million (A$0.53 million) is payable on completion of a sale and buy agreement and could comprise RM600,000 (A$a hundred ninety,000) cash and RM1.1 million (A$340,000) in iCar Asia shares.

A in addition RM1.8 million (A$540,000) could be payable 18 months from that date in equal elements coins and iCar Asia stocks. The balance potential RM3 million (A$930,000) pertains to non-guaranteed, performance-primarily based payments and might be break up calmly among coins and shares.

Headquartered in Kuala Lumpur, iCar Asia is centered on developing and working leading car portals in Malaysia, Indonesia and Thailand. It claims its on line property currently reaches over 1.5 million automobile consumers and lovers in the vicinity every month.
 
Its community includes Indonesia’s Mobil123.com and Thailand’s Autospinn.com.
 
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Patrick Grove approximately to get his hattrick
 
Catcha Media subsidiary, iCar, lists on ASX
 
Paul Tan: From personal adversity to expert triumph
 
 
For more era information and the modern day updates, comply with @dnewsasia on Twitter or Like us on Facebook.
 

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iCar Asia Automotive Damon Rielly LiveLifeDrive.com Catcha Media
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