Lithuania-based Horizontal Media has acquired automotive site Autogidas.lt, real estate site Domoplius.lt, and general classified site Sutarta.lt from Vertikali Medija for an undisclosed sum.

Earlier this year, Horizontal Media was acquired by Lit Capital, a venture capital fund with a focus on high-growth companies in the Baltic region. Lit Capital is led by CEO Šarūnas Šiugžda while Horizontal Media by Per Moller. The latter company also owns peer-to-peer book trading site Sena.lt.

Horizontal Media is planning to invest up to €10 million ($10.3 million U.S.) in the acquired sites and further acquisitions over the coming years, told us Tautvydas Stasiulis from Lit Capital.

The deal will lead to an expansion of the services offered by Autogidas and Domoplius to enhance the customer experience and strengthening their market position, commented Evaldas Narbuntovićius, who manages the acquired sites, in a report on 15min.lt.

Vertikali Medija was acquired by ZLG from Eesti Media in 2016 in the wake a ruling by Lithuania’s Competition Council. Eesti Media owns several other classified sites, including real estate site Aruodas.lt, job site Cvbankas.lt, auto site Autoplius.lt and general classified site Skelbiu.lt.

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