12 Dec 2013

Trade Me to buy MotorWeb

11:10 am on 12 December 2013

Trade Me is buying Auckland business MotorWeb for $19.5 million.

The deal is conditional but expected to be completed later this month. The transaction is cash funded.

MotorWeb is an online business that packages and sells motor vehicle information and reports to finance companies, insurers, car dealers and the general public.

The firm which has operations throughout Australasia was founded by Patrick Costigan in 1997 and began trading in 2000.