In Switzerland, insurance company AXA Winterthur has bought 50 percent of  Tamedia‘s auto vertical autoricardo.ch, for an undisclosed amount.

The purchase was approved by the Swiss Federal Competition Commission in February. The companies have now entered into a long-term partnership; aimed at developing new finance and insurance products for their customers.

Tamedia owns a number of classifieds sites including recruitment sites Jobs.chJobwinner.ch and Jobup.ch; property verticals Homegate.ch and ImmoStreet.ch; and general classified sites Tutti.chTradono, and Ricardo.ch. The company also invested in German horizontal Gebraucht.de in December.

According to a Tamedia news statement, the companies hope to introduce new concepts to the Swiss used-auto market together.

“The introduction of new business segments through the development of the mobility ecosystem is one of the cornerstones of our strategy 2020,” AXA Winterthur head of transformation and market management Carola Wahl (LinkedIn profile) explained. The company’s goal is to be involved at an early stage of the value chain.

 

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