South African technology investor, Naspers, said it has agreed to sell of Buscapé, one of the leading online comparison shopping sites in Brazil, to Zoom.
Buscape is an online price comparison site with over 15 million active users in Latin America.
The company was acquired by Naspers in 2009.
Naspers said in a statement that the sale is consistent with its focus on its core businesses in the online classifieds, food delivery, and payments and fintech sectors.
“Naspers is proud to have helped build Buscapé into one of the leading ecommerce brands in Brazil. Naspers remains committed to Brazil and we continue to operate and invest in this important market in the online classifieds, food delivery, payments and fintech sectors, among others, through companies including OLX, ifood, and PayU,” said Pat Kolek, Chief Operating Officer, Naspers.
However, the sale is still subject to regulatory approvals and the transaction is expected to close in 2019.
Naspers has been divesting from its non-core business, including startups and entertainment companies.