Freelancer acquires Spanish & Portuguese competitors

Company News

by David Chau

Freelancing and crowdsourcing website, Freelancer Ltd (ASX:FLN), has acquired two of its competitors - Nubelo and Prolancer.

According to Freelancer, apart from itself, these two companies are the largest Spanish and Portuguese freelancing marketplaces. Nubelo is headquartered in Barcelona, and took control of Prolancer back in July 2015.

Freelancer expects this transaction will expand its leadership in the Latin American, Spanish and Portuguese markets – making it a dominant leader, far ahead of any other competitor, in the freelancing marketplace.

The company has not disclosed the price it paid for these acquisitions, but expects the deal to close by today.

Freelancer posted a net loss of $778,000 at 30 June 2016.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.