South Africa-based internet to media company Naspers, through its U.S. subsidiary, OLX Group, has fully acquired UAE online classifieds website dubizzle.
Naspers, which had 51 percent stake in dubizzle, also acquired the remaining 49 percent stake in dubizzle for $190 million.
The transaction values dubizzle at approximately $400 million.
Naspers said that the deal is in line with its strategy to increase its global presence in classifieds, payments and food-delivery verticals and highlights the potential of the marketplace model in the Middle East region.