Oslo and London, 6 December 2021- Adevinta is pleased to announce that its $9.2bn acquisition of eBay Classifieds Group ("eCG") has been named as the "Technology Deal of the Year - Europe'' at the TMT M&A Awards 2021. The deal, which, completed in June 2021, has created the largest online classifieds player in the western world.
Financial advisors for the transaction were Citigroup (Adevinta), Barclays, Arctic Securities (Schibsted), Goldman Sachs, LionTree (eBay), while Legal advisors included Skadden and BAHR, Cleary Gottlieb Steen & Hamilton, Wiersholm, Wachtell, Lipton, Rosen & Katz, Quinn Emanuel Urquhart & Sullivan.
The TMT Awards is an annual industry competition recognizing the most successful infrastructure and telecom deals globally that took place over the course of the past year. They are hosted by TMT Finance, the premier M&A and investment information platform for the telecoms, media, and technology sector, that provides insight, analysis, and market intelligence.
Rolv Erik Ryssdal, Adevinta CEO said, "Adevinta's acquisition of eCG was a significant milestone for the Company, creating a leading online classifieds specialist operatingdigital marketplaces around the world. We are honoured to be selected as the best technology deal of the year at the TMT Awards in recognition of this achievement. It is testimony to the dedication of our team who have worked tirelessly to bring us to where we are today."
Ben Nice, Editorial Director, TMT Finance said: "Despite the continued challenges and uncertainty in the market and society at large, deal flow in the TMT sector - and particularly digital infrastructure - has been red hot as reflected in this year's selection of shortlisted deals and winners. Congratulations to all involved. We expect this trend to continue into 2022 and wish all shortlisted companies and people continued success in the year ahead."
Adevinta is now focused on successfully integrating the two businesses and executing on its new strategy, "Growing at Scale", launched on Tuesday 30 November, during its first Capital Markets Day since the acquisition of eCG.