Frontier Digital Ventures snaps up 3 online classified portals in Africa

Company News

by Jessica Amir

Online classified business, Frontier Digital Ventures Limited (ASX:FDV) completed the purchase of 3 online property classified portals in Africa.

The company will pay US$500,000 to Jumia, which is a online classified group in Africa.

Frontier will sell Afribaba and merge all traffic, listings, agents, advertisers and revenues onto the existing portals.

The company says the transaction strengthens its portfolio and will create 3 new market leading investments, with privileged access to corporate opportunities and value for shareholders.

Shares in Frontier Digital Ventures Limited (ASX:FDV) are trading flat at 65 cents.
 

Jessica Amir

Finance News Network
Jessica is a senior finance journalist and presents the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.