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CarGurus Closes Acquisition of PistonHeads Motoring Website from Haymarket Media
Friday 11 January 2019

11 January 2019 - UK-based automotive marketplace CarGurus, Inc. (NASDAQ: CARG) has closed the acquisition of used car motoring website PistonHeads from UK-based international media company Haymarket Media Group to accelerate growth in the UK, the company said.

Terms of the deal were not disclosed.

Following completion of the acquisition, CarGurus intends to operate PistonHeads as an independent brand, maintaining the site's popular community and content, while applying CarGurus' technology to enhance the site experience for users.

CarGurus also plans to offer its dealership listings services across platforms to improve choice for UK automotive buyers and drive increased value and efficiencies for CarGurus' dealership and manufacturer customers.

CarGurus (NASDAQ: CARG) is a global, online automotive marketplace connecting buyers and sellers of cars.

The company uses proprietary technology, search algorithms and data analytics to bring trust and transparency to the automotive search experience and help users find great deals from top-rated dealers. 

Haymarket Media Group, owner of What Car? Autocar and Classic and Sportscar creates specialist content and services for international audiences.

The company has more than 70 market-leading brands created by world-class experts in locations in the UK, the US, Hong Kong, Singapore, India and Germany.

PistonHeads was acquired by Haymarket Media Group in 2007, and is known for its large and devoted online motoring community, editorial tone and used car marketplace.
Details
Date Published: 11/01/2019
Target: PistonHeads
Country: UK
Sector: Motor Vehicles
Type: Corporate acquisition
Financing:
Status: Closed
Vendor: Haymarket Media Group
Buyer: CarGurus, Inc
Comment:
Terms of the deal were not disclosed

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