The Market Herald, a fast growing business and finance media platform publishing, agreed to acquire Gumtree Australia, an iconic online marketplace, from Adevinta, a global classifieds specialist, with online marketplaces, for $60m. “The decision to divest our operations in Australia follows a strategic review to prioritise investment for growth in five core markets, in the pursuit of reducing complexity and accelerating the execution of our strategy. We are confident that The Market Herald is well positioned to create strong growth opportunities for Gumtree, CarsGuide and Autotrader, given their keen focus and expertise in the local Australian market. Adevinta will continue to support the Australian business and its employees during the transition, ensuring business continuity for users and customers. We congratulate The Market Herald on the acquisition and wish them continued success,” Antoine Jouteau, Adevinta CEO.