We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
80,259 News Articles

QXL and Ricardo Merge to Create Euro Auction Giant

Brits and Germans join forces to take on E-Bay

Two of Europe's leading online auction service providers London-based QXL.com PLC and Hamburg-based Ricardo.de AG have hammered out an agreement to merge in a stock-swap deal valued at more than £700 million.

Upon completion of the transaction, the combined company will be called QXL Ricardo PLC, the companies said.

By combining QXL's network of auction sites in nine European languages and currencies with Ricardo's sites in Germany, the Netherlands, Switzerland and the U.K., the merger will create a pan-European auction giant with around 1.2 million registered users.

The QXL-Ricardo pact was announced ahead of today's announcement that Madrid-based ISP (Internet services provider) Terra Networks SA will acquire US Web portal Lycos in a £8
billion stock swap deal.www.qxl.com.


IDG UK Sites

Best Christmas 2014 UK tech deals, Boxing Day 2014 UK tech deals & January sales 2015 UK tech...

IDG UK Sites

LED vs Halogen: Why now could be the right time to invest in LED bulbs

IDG UK Sites

Christmas' best ads: See great festive spots studios have created to promote themselves and clients

IDG UK Sites

Why Apple shouldn't be blamed for exploitation in China and Indonesia