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EBay to buy Cox Automotive Media Solutions

EBay Inc. said Dec. 19 that the company will buy Atlanta-based Cox Automotive Media Solutions.

Cox Automotive Media owns Australian automotive platforms CarsGuide.com.au and Autotrader.com.au, where users review, buy and sell cars.

Financial terms of the transaction were not disclosed. The two platforms will be merged with eBay's classified business unit Gumtree Australia after the deal.

EBay said the acquisition is part of its classifieds group's verticalization strategy in the automotive market. In October, eBay bought Cox Automotive-owned car dealer platform Motors.co.uk.

The deal, which is subject to regulatory approvals in Australia and other closing conditions, is expected to close in the second quarter of 2020.