Adevinta sells Hungarian classifieds businesses to Ingatlan.com

Oslo, 14 September 2023 - Adevinta ASA (ADE) announces today the closure of the sale of its Hungarian online classifieds businesses Jófogás, Használtautó.hu and Autónavigátor to Ingatlan.com, the leading real estate classifieds platform in Hungary. This sale is part of Adevinta's strategy to focus on driving growth in its five European markets: Benelux, France, Germany, Italy and Spain. On 23 February 2023, Adevinta had announced the launch of the sale process for Hungary, which was the last remaining business under strategic review.

Adevinta’s Hungarian portfolio includes:

• Jófogás - One of the leading online classifieds sites in Hungary, providing creative services like door-to-door delivery and parcel automats.
• Használtautó.hu - Hungary’s leading vehicle advertising site featuring a wide range of categories including machinery, motorcycles, buses and even ships.
• Autónavigátor - The content site of Használtautó which posts car reviews and news on a daily basis, as well as covering the used car market for private buyers.

The impact of the sale of the Hungarian business on Adevinta’s financials is considered immaterial.

“We are pleased to have found the right local buyer in Ingatlan.com, who are extremely experienced in Hungary and well positioned to create strong growth opportunities for their online classifieds business over the long term,” commented Antoine Jouteau, CEO Adevinta. “The completion of the divestiture of our Hungarian marketplaces is another important milestone in the optimisation of our portfolio and the execution of our Growing at Scale strategy, as we continue to focus on our five European markets.

“We would like to thank everyone at Jófogás, Használtautó.hu and Autónavigátor for their contributions to the business over the years, as they are now transferring to Ingatlan.com. Adevinta will continue to support the Hungarian business and its employees during the transition, ensuring business continuity for users and customers. We congratulate Ingatlan.com on the acquisition and wish them continued success.”

József Keleti, CEO of Ingatlan.com, said: “The transaction is a huge leap forward. We are excited to integrate the talented teams of Jófogás, Használtautó.hu and Autónavigátor with Ingatlan.com and work together on our strategic goals. Our users will benefit from the limitless potential of managing their two biggest wealth assets, properties and cars, in one place. This is a unique synergy opportunity in the European market. We are grateful for the extraordinary support provided by Adevinta throughout the transaction process.”