Continuing its Scandinavian expansion, U.K. online auction house QXL.com PLC has bought Denmark's largest auction site, Jubii Auktion, QXL.com announced today.
In the deal, Jubii Auktion will receive 510,000 shares of QXL.com stock, worth 6.6 million pounds (US$10.88 million), QXL.com said in a statement.
Last month, QXL.com purchased Norway's largest online auction site, DinSide Auksjon, for 13.2 million pounds from online publisher DinSide AS. [See "U.K.'s QXL.com Buys Norway's Largest Auction Site," Dec. 9, 1999.]Jubii Auktion, which reports to have 30,000 members, is being bought from a Danish search engine and Web directory, Jubii A/S. The two companies also signed a three-year deal to integrate the new QXL.com auction site with Jubii A/S, QXL.com said.
QXL.com, in London, can be reached at +44-208-96-2700, or at http://www.qxl.com. Jubii Auktion, in Copenhagen, can be contacted at +45-3326-1984, or at http://www.jubii.dk.