Deal: Clayton Utz has advised ASX-listed digital business and investor relations platform services provider, The Market Herald Limited (ASX: TMH) in respect of its acquisition of 100 per cent of the shares and related assets of Gumtree Au, which owns all of the issued share capital in Carsguide Autotrader Media Solutions.

Value: $86 million

Area: Merger and acquisition

Key players: Clayton Utz partner Mark Paganin is leading the team together with partner David Gerber, partner Rohan Mishra and senior associate Jackie Leggett, as well as lawyers Tyson Ginn and William Colreavy.

Deal significance: The Gumtree, Carsguide and Autotrader platform is one of the largest digital communities in Australia. Gumtree is used by one in three Australians and 10 million households every month. With over 100,000 new listings every day, 3.5 million registered users and six million app downloads, for 15 years, Gumtree has been the number one place where Australians buy and sell.

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Gumtree Autos, Carsguide and Autotrader are together the number two automotive marketplace in Australia. The number of car listings and site traffic are nearing parity with the number one automotive marketplace.  

The Market Herald managing director Jag Sanger commented: “The Gumtree, Carsguide and Autotrader platform is one of the largest digital communities in Australia. Gumtree is part of life for millions of Australians, and there are many opportunities to add more products and services, creating and end to end digital offer. In addition, the Gumtree, Carsguide and Autotrader proposition is the leading challenger to the $6 billion marcap automotive listings incumbent and there are many opportunities to close the gap.”