Scoot Monday announced the completion of its acquisition of Loot, the online and print-based classified guide. The deal is worth £189.8m.
Scoot, which currently focuses on city-guide information via the Internet and telephone, says it plans to expand its operations into business-to-consumer and consumer-to-consumer e-commerce. In a statement it claimed the deal will "create the largest destination site for classified and directory services in the UK".
Scoot said it will now focus on five vertical markets: home and garden, business services, motoring, travel and entertainment, and retailing.
Full story to follow
What do you think? Tell the Mailroom. And read what others have said.
See techTrader for more technology investment news, plus quotes and research.
Take me to the e-commerce special.