QXL.com Plc announced yesterday that it has acquired the leading Norwegian consumer auction player, DinSide Auksjon for 13.2m pounds ($21.4m). The all-share deal marks QXL’s first foray into the Scandinavian market, but CEO Jim Rose said it was merely the first step into the area, with more acquisitions to follow.
DinSide Auksjon, the auction channel on the portal of content provider DinSide AS, will be integrated into a forthcoming qxl.no, bringing with it 40,000 members. The 10-month old service made a net loss of around $165,000 since going live. Its managing director, Tore Andre Godager, will stay in the role with the new Norwegian QXL.
QXL currently operates in its native UK, where it is listed on the London Stock Exchange, as well as France, Germany, Italy and the Netherlands. A Spanish office is also planned.
