Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Trade Me to buy Motorcentral dealer platform

Trade Me to buy Motorcentral dealer platform pending Commerce Commission approval

By Paul McBeth

July 11 (BusinessDesk) - Trade Me Group, the country's dominant online auction site, will buy Limelight Software, which operates the cloud-based auto dealer management platform, for an undisclosed sum provided it gets Commerce Commission approval.

Wellington-based Trade Me today signed a sale and purchase agreement to buy Christchurch-based Limelight subject to clearance from the antitrust regulator, which has an indicative timeframe of 40 days. Limelight's Motorcentral platform includes inventory management, customer relationship management, ad plug-ins and website functions.

Trade Me plans to run Motorcentral as a standalone business, but let dealers upload listings to a range of websites including its Autotrader, Driven and Trade Me Motors.

"It’s well-run with an experienced and smart team, and has a proven track record of delivering great services that add value to dealers," said Alan Clark, head of Trade Me Motors, in a statement. "The team also has high engagement with the dealer community and we see many opportunities for continued growth. We’re excited."

The acquisition comes as New Zealand's new car sales continue to push new records on the nation's expanding population, strong currency, and record tourism numbers stoking demand for rental cars.

Trade Me shares rose 0.4 percent to $5.36, having gained 6.6 percent so far this year.


© Scoop Media

Business Headlines | Sci-Tech Headlines


By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>


Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>


Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>


Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>


Split Decision - Appeal Planned: EPA Allows Taranaki Bight Seabed Mine

The Decision-making Committee, appointed by the Board of the Environmental Protection Authority to decide a marine consent application by Trans-Tasman Resources Ltd, has granted consent, subject to conditions, for the company to mine iron sands off the South Taranaki Bight. More>>