Telstra has acquired a majority stake in two China-based online advertising businesses for an undisclosed amount.
Australia’s largest telecommunications company has bought 55% stakes in Norstar Media which operates automotive website Che168.com and digital devices site IT168.com, and AutohomePCPop which runs auto website site Autohome.com.cn and digital devices site PCPop.com.
In 2006 Telstra acquired 51% of China’s number one real estate site SouFun.
Telstra CEO Sol Trujillo said: “Telstra now owns majority interests in three of the leading Chinese companies operating in the three key online advertising industry segments: real estate, auto and digital devices.
“Combined with our majority stake in China’s number one real estate website, SouFun.com, these acquisitions provide further high growth opportunities for our buy, find and sell business, Sensis.”
Telstra would not disclose how much it had paid for the two companies, but Trujillo said it was “less than half” of the US$254 million it paid for SouFun in 2006.
Online advertising revenues in China’s automotive segment are expected to triple by 2012 from US$230m to $690m, while the online digital devices market is also expected to triple from US$235m to US$700m by 2012.
The latest two acquisitions have been merged by Telstra.
