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Acquisitions

TradeMe consolidates its automotive dominance with MotorWeb buy

TradeMe consolidates its automotive dominance with MotorWeb buy

TradeMe has entered into an agreement to buy MotorWeb for $19.5 million in cash. TradeMe chief executive Jon Macdonald said MotorWeb had a lot of potential to complement TradeMe motors, "and will give us the chance to broaden and deepen the products and data we provide in relation to motor vehicles"

The Warehouse is paying $65 million to acquire the Noel Leeming Group and its 92 stores in a bid to boost its consumer electronics offerings and, no doubt, its flagging share price and profits.

US-based enterprise tech company Emulex has reached out to Endace with a cash bid and secured lock-up agreements with chairman and co-founder Dr Ian Graham and chief executive Mike Riley. The board has also expressed support for the deal and is recommending shareholders accept it.