Since 2003, TradeMe and vehicle listing aggregator AutoBase Limited have had a cosy exclusive business arrangement in place, and today the Fairfax-owned giant entered into an agreement to purchase the latter outright.
TradeMe already owned a quarter of AutoBase, a stake it acquired from cofounders Hamish Lusk and David Paviour back in 2005.
AutoBase takes classified vehicle listings from dealers, and TradeMe displays these advertisements on TradeMe Motors.
TradeMe chief executive Jon Macdonald said acquiring the assets of AutoBase was a logical move.
“This acquisition will allow us to consolidate the TradeMe Motors business line. It’s business as usual for dealers except we’ll have direct relationships with them, in much the same way as we operate our other classified businesses TradeMe Property and TradeMe Jobs.”