CarTrade Tech acquired OLX India in 537 crore

OLX India Soon the Mumbai- based used car platform Car Trade Tech will acquire the CarTrade Tech with a valuation of 537 crore.

Why it is in the News?

On the 10th of July, CarTrade Tech will acquire Sobek Auto Pvt Ltd the entity which bought OLX, with the acquisition will take of 21-30 days. In the statement, the company had said that company will raise funds from investors such as Temasek Holding and Tiger Global, for buy-back purposes.

CarTrade to acquires OLX India

Who acquired OLX India?

CarTrade had acquired OLX India

What is the valuation of the deal?

CarTrade to acquire OLX India’s auto business for Rs 537 crore