In May, the price comparison and e-commerce service zoom announced the purchase of the then rival Buscapé. The deal needed to be approved by the Administrative Council for Economic Defense (Cade), however. No more: the acquisition was recently approved by the agency.
With the operation, Buscapé becomes part of the group’s service portfolio Mosaic, owner of Zoom. The purchase also includes platforms such as Bondfaro, QueBarato and GWHC Serviços Online, which controls the Moda it website and participates in services such as Cuponeria and Compara Online.
The value of the deal was not revealed by either party, but it is likely to be below the $ 342 million that South African Naspers disbursed to buy 91% of Buscapé in 2009.
In the following years, Naspers was unable to obtain the expected return with the price comparison platform and, therefore, tried to sell Buscapé in 2015. However, all offers were rejected because they were below the US $ 342 million disbursed by group initially.
In 2017, Buscapé also started to act as a marketplace. It is said that, based on this change, Naspers expected to sell the platform for a higher price than the initial amount, but the platform’s operations do not seem to have presented the expected evolution.
It is possible, then, that Naspers decided to divest the business for less than the target to focus on services more aligned with its current strategies, such as iFood and OLX.
As for the Mosaico group, “the operation will allow the expansion of its business with retailers and the general public”.
With information: Reuters.