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Naspers Buys Majority In Brazilian Online E-Commerce Group Buscape For $342 Million

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Naspers, the South African media giant, is continuing on its online acquisition spree across Europe and now Latin America: it has acquired 91 percent stake in Brazilian online e-commerce group Buscape.com, for $342 million. Buscape provides comparison shopping solutions to more than 100 portals and websites in Latin America, including Microsoft (NSDQ: MSFT), Globo and Abril, among others. It also rund QueBarato, a free-classifieds network in Latin America. In addition it has an affiliate advertising network named Lomadee, an e-commerce research business, eBit, and a fraud risk assessment service, FControl.

Naspers already has two investment in the local market, Abril and Compera nTime, and says has a good grasp of the market. Details in release.