Adevinta and Prosus-backed OLX Brazil completed the acquisition of Grupo ZAP for $646m.

OLX Brazil, the 50/50 joint venture between tech firms Adevinta and Prosus, completed the acquisition of Grupo ZAP, a digital real estate classifieds platform, for $646m. “OLX Brazil and Grupo ZAP are at the forefront of helping players along the Real Estate value chain become more digital. The transaction will boost OLX Brazil’s capabilities to drive innovation and develop a superior customer experience, ultimately making buying, selling and renting real estate in Brazil much safer, simpler and more efficient for all players involved,” Andries Oudshoorn, OLX Brazil CEO.