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Tamedia announced today an agreement with AXA Winterthur to join “forces, combining the capabilities of AXA Winterthur in the field of insurance, mobility, and financing and Tamedia’s know-how in classifieds and its market coverage.”
The partnership, reported by the German press, includes the website autoricardo.ch in a share split of 50/50. autoricardo.ch is a leading auto classifieds website in Switzerland. AXA Winterthur and Tamedia agreed, however not to disclose details about the financial terms of the transaction.
According to Tamedia, “for most buyers, finding a suitable vehicle is a long process and involves countless questions. With autoricardo.ch, Tamedia operates one of the leading motor portals in Switzerland. AXA Winterthur is the number one in the Swiss insurance market with comprehensive solutions in personal, property, liability and life insurance as well as in healthcare and occupational pension plans. The two companies intend to use their individual strengths to develop a forward-looking business model and offer innovative, up-to-date solutions relating to mobility.”
This move can be seen as an anticipation from insurance companies to counter future competition from Google, Amazon or Facebook.
The transaction is still subject to the approval of the Swiss Federal Competition Commission.