Online service provider M-Web has sold M-Web Auctions to Aucor for an undisclosed amount.
The sale further streamlines its focus following the recent disposal of shares in Jobfood.com, an online recruitment site.
"It`s a question of getting back to clarity on some of our strategic aims," says Russel Yeo, GM of M-Web Studios. "Our business is running a premium subscriber platform, focusing on services and content. M-Web Business Solutions is clearly seeing itself as an enabler for other companies - helping companies unlock the value of the Internet - not operating as a player itself."
M-Web says its sale of M-Web Auctions is in line with the global trend for the consolidation of pure Internet businesses with their traditional brick-and-mortar counterparts.
The deal will see M-Web Auctions subscribers transferred to Aucor`s online user base on 1 August. M-Web will host Aucor`s site (www.aucor.com) on the M-Web portal. All registered M-Web Auctions users will be pre-registered on the aucor.com Web site with the same user names and passwords. Aucor.com user names and passwords will not be affected.
M-Web has declined to comment on the value of the deal or the number of subscribers who will be affected. However, Yeo says the Aucor Group is Southern Africa`s leading "real world" auctioneer, which will give members a better overall service with a highly credible brand.
"We are seeing that certain businesses in SA are better served by brick-and-mortar services. Auction services are among these," he says. "This move gives our members a better service and gives Aucor a user base of existing auction members, as well as exposure to 1.4 million M-Web visitors."
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