Transaction Summary
- On 7 October 2014, 100% of leading classifieds aggregator Trovit (www.trovit.com) announced the acquisition by publicly listed Japanese real estate information services provider NEXT (www.next-group.jp)
- Closing is subject to conditions precedent and expected for November 2014
- Trovit will allow NEXT to build a massive platform offering real estate and lifestyle information from across the world
Overview of Trovit
- Launched in 2006 in Barcelona, Trovit is the world’s leading classifieds aggregator, providing its users with access to listings in real estate, cars, jobs, products and other segments
- Trovit has expertise in successfully operating websites worldwide, 20k content partnerships in 40 countries, and a base of 47m unique monthly visitors
- Trovit’s proprietary search engine technology allows users to swiftly find most relevant classifieds ads and narrow them down with enhanced and easy-to-use functionalities
- Trovit generated revenues of €17.6m and EBIT of €5.9m in 2013
- The company is run by a highly experienced management team led by CEO Iñaki Ecenarro, who will join NEXT and continue to manage Trovit
NOAH Advisors’ Role
- NOAH Advisors acted as the exclusive financial advisor to Trovit and its shareholders, exploring options with a number of strategic and financial investors
- Trovit has been in a close relationship with NOAH Advisors for a number of years and has presented at the NOAH Conference 2010, 2011 and 2012