Web portal Motors24 changes owners

BaltCap’s portfolio company FCR Media Holding OÜ acquired the web portal Motors24 that publishes classified ads for motor vehicles.

Jon Martinsen, CEO of FCR Media group, that provides information and advertising services in Estonia and elsewhere in Europe, says that Motors24 has proven its viability throughout the years and that the transaction was a valuable supplement to the group’s portfolio of web products.

„Our priority is to develop further the contents and services of the web portal,” said Martinsen, adding that the transaction was part of the company’s long-term marketing strategy.

„The objective of FCR Media is to become the best advertising partner on the market for small and medium-sized enterprises.”

Motors24 has about 50,000 users every week and publishes more than 10,000 classified ads for motor vehicles. “One competitive advantage is clearly also the own production of Motors24 that includes production of motors- and technology-related shows and video clips,” added Martinsen.

FCR Media is one of the leading local search companies in Europe that includes providers of information and advertising services in Estonia, Latvia, Lithuania, Ireland, Russia, Czech Republic and Slovakia.

Additional information:

Jon Martinsen                                                

CEO

FCR Media AS

Tel: +3726300205

E-mail: jon.martinsen@fcrmedia.ee

Oliver Kullman

Investment Director

BaltCap

Tel: +3726650283

E-mail: oliver.kullman@baltcap.com