SPH buys sgCarMart for S$60 million

[Yamapi]

Singapore Press Holdings (SPH) today entered into a sale and purchase agreement to buy online car portal sgCarMart for up to S$60 million. The deal includes sgCarMart's online vehicle classifieds site, car auction platform, online marketing site as well as its service provider for car loans, insurance and settlement services.

 

SPH, which owns online car portal s----s, will pay for the acquisition wholly in cash.

 

SPH shares ended today 4 cents down at $4.44.

 

http://www.businesstimes.com.sg/breaking-n...armart-20130401

[Asher]

SPH owns Hardwarezone, now owns SgCarMart (forums?)...

Edited April 1, 2013 by Asher

[Iprouter]

Check the date of the news.

[Wasted]

If story is true, the owners must be laughing all the way to the bank!

[RadX]

Congrats laserjet

[Mustank]

Owner Huat ahhhhh!!!!!!

[Rncw]

wah...60mil can go china and becomes 300mil......can be ATB king in china loh.....keep a harem in china....everyday piaks until song...live like emperor

[Dafansu]

It's true, details in today's Straits Times

[Ender]

Song ah.. We'll be like EDMW soon..

 

Also what does $60 million in cash looks like? 6000 notes of $10,000 denomination or ?

 

SPH, which owns online car portal s----s, will pay for the acquisition wholly in cash.

Edited April 2, 2013 by Ender

[Duckduck]

Congrats to owners. Regrets to users. This means more irritating adverts n prob more usage charges to cover acquisition cost. I guess sph is not to be out done by Singtel n hungrygowhere n instead dividend back 60M to shareholders, they buy sgcarmart instead.... Car portals have limited upside I wonder why they bother

[1fast1]

I had a bit of a nasty shock when a private US forum I'm a member of suddenly declared it was selling out to a big media company.

 

Turns out that was an April Fool's Day prank.

 

Unfortunately, this isn't. Now SGCM joins our vaunted now 100-something ranked news plus beacons of online enlightenment like STOMP under the SPH umbrella.

[RadX]

I out of job soon :-):-):-)

[Zxcvb]

MyCarForum is also part of sgcarmart. I remembered many years back sgcarmart bought mycarforum.

[Mustank]

Congrats to owners. Regrets to users. This means more irritating adverts n prob more usage charges to cover acquisition cost. I guess sph is not to be out done by Singtel n hungrygowhere n instead dividend back 60M to shareholders, they buy sgcarmart instead.... Car portals have limited upside I wonder why they bother

 

Huat ah!!!!

[Lala81]

congratulations to the owners to making a pile

 

SPH ... really don't know what to do with their $.

60 mil

Edited April 2, 2013 by Lala81

[Ender]

I out of job soon :-):-):-)

??

You mean those EDMW mods taking mos duties here??

[1fast1]

I out of job soon :-):-):-)

 

You always find a way to come back from the dead.

 

BTW, I changed all my user details to nonsense. You might want to as well, if you value your privacy. Just a thought.

[Mustank]

MyCarForum is also part of sgcarmart. I remembered many years back sgcarmart bought mycarforum.

 

Woohoo!!!!