INM expands portfolio as it acquires Irish car sales site
Independent News & Media plc (INM) is now the full owner of motor car sales website CarsIreland.ie.
INM, which publishes the Belfast Telegraph, already owned 50% of the CarsIreland.ie, before buying up the remainder for an undisclosed sum.
According to INM, the acquisition "signals the company's intention to be the leading print and online publisher in Ireland".
CarsIreland.ie will join INM's portfolio of print and digital titles.
The website was launched in 2004 and is Ireland's fastest growing cars classifieds business.
The business has grown significantly in recent years and works with more car dealers than any other car sales website in Ireland.
According to INM, the acquisition "synergises with the group's print and online motoring supplements".
INM chief executive Robert Pitt said: "We are very pleased to add CarsIreland.ie to INM's portfolio of titles. There are clear synergies with INM's existing motoring features across print and digital.
"CarsIreland.ie is the go-to destination for drivers looking to sell their car or buy a new vehicle and enjoys significant visitor numbers.
"The site's online dominance fits well with INM's strategy for both its online and print titles."