Online ad firm OLX Brazil to acquire Grupo ZAP for $642m

Online ad firm OLX Brazil to acquire Grupo ZAP for $642m

Photo by Jae Park on Unsplash

Online marketplace OLX Brazil has agreed to buy competitor Grupo ZAP for 2.9 billion reais ($642 million), forming a leading Brazilian player in digital real estate advertising, OLX and its European owners said.