Naspers Acquires vatera.hu
Published October 9th, 2008
MIH Internet Europe is pleased to announce its acquisition of vatera.hu, Hungary’s leading auction Web site. MIH Internet Europe, a subsidiary of the South African print and online media company Naspers (JSE: NPN) now holds 100% of the share capital of vatera.hu.
Christian Unger, CEO of MIH Internet Europe, is pleased about the addition: “This acquisition fits into our strategy excellently and strengthens our position on the Eastern European market. Of course we will continue to operate the successful name vatera.hu as an independent brand.” Vatera.hu was established in the year 2000 and as a full-service auction platform operator the company offers sales solutions for Internet trading by private individuals and companies, closed auctions for dealers, as well as IT and vehicle park liquidations for enterprises. In addition, vatera.hu offers services and infrastructure solutions (e.g. Internet shops) for retailers. Hungary represents a key market for Naspers’ planned expansion into the Eastern European region. The existing management team will continue to steer vatera.hu and thereby become part of MIH Internet Europe.
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