Find24 digital platform acquires OLX operations in Central America

Editorial Dept. Voz de la Diaspora

Find24, the provider of market and business solutions in Central America and OLX Group, the global network of markets, announced a merger in Central America. As part of the agreement, Find24 and OLX Group will combine their operations in four countries, three of which already have an existing local OLX consumer platform, with the merged group operating in nine countries in total.

In Panama, Costa Rica, and El Salvador, the existing Find24 and OLX platforms merge and continue with Find24's technology and brand. In Guatemala after the merger they will be able to access Find24, the multinational with 14 years of leadership.

Find24 will manage the new local operations in the four countries.

This merger will provide about 5 million users across the region, with a scope of more than 50 millions of inhabitants, access to a new online buying and selling experience.

Find24 and OLX provide complementary capabilities in terms of product and feature development. Offers will be strengthened in key categories, including real estate, Automotive industry, job opportunities and Electronic Commerce of new and little-used products and services.

Both companies form the most popular and wide-ranging classifieds platforms in their markets..

Find24's CEO and Co-Founder, Boris Métraux, He said: "This merger provides considerable growth potential for the new company and we are excited to have access to two new markets.. The Find24 business has been strengthening in recent years, and with OLX we can accelerate this growth in new and innovative ways. Together we are dedicated to providing our users with the best possible experience at this key moment in the world.”.

Boris Métraux, CEO and cofounder of Find24.

The regional manager of the OLX Group, Ricardo Donoso, he stated: "We have always believed in a strong local proposal for our users, so we are delighted to join forces with a regional player who has a high growth mindset. With the merger, our customers will benefit from a broader offer and a better user experience, creating value for both users and business”.

Ricardo Donoso, regional manager of Grupo OLX.

This agreement is establishing a new benchmark in the online classified industry for Central America and is impacting the regional economy., taking into account that E-commerce has become the salvation table of the economies during this emergency that the world is experiencing.

Both firms celebrate bringing a quality service to the region while providing opportunities for human resources throughout Central America..