Durban-based Ignition Group snaps up Gumtree

Online classifieds website Gumtree South Africa has been acquired by Impresa Capital, the majority shareholder in the Durban-based Ignition Group, for an undisclosed sum.

Ignition was founded 20 years ago by brothers Sean and Donovan Bergsma. Gumtree South Africa, founded in 2004, was previously owned by US e-commerce giant eBay, before being sold to Norway-based online classifieds group Adevinta.

Gumtree South Africa is one of the country’s biggest websites. “The online classifieds platform helps millions of users and customers buy and sell second-hand goods daily and holds solid leadership positions in the competitive South African market,” Ignition Group said in a statement on Friday.

“This acquisition cements our strategy of investments in the technology and media sectors and provides our portfolio of businesses with a solid platform for growth,” said Sean Bergsma in the statement. “We plan to enable Gumtree customers to experience new ways of buying and selling through partnerships with the Ignition ecosystem of services.”

He said the Gumtree acquisition is the “ideal next step to taking the business in new and exciting directions for the future and opening up a wealth of opportunities for Gumtree users through the platform”.

The deal is still subject to regulatory approvals.  – © 2022 NewsCentral Media