CarTrade says in talks to acquire CarDekho, BikeDekho in consolidation move

CarTrade Technologies Ltd. on Tuesday said it is in talks to acquire CarDekho and BikeDekho in what can be seen as consolidation move.

Vinay Sanghi, chief executive officer of CarTrade Technologies Ltd. (Livemint)

The company has been in discussions with Girnar Software regarding a potential consolidation opportunity in the new and used automotive classifieds businesses (CarDekho and BikeDekho) in India, according to an exchange filing.

“These discussions are limited to the automotive classifieds businesses and do not include financing, insurance, or other non-automotive businesses of theirs. At this stage, there is no binding or definitive agreement executed in relation to the transaction.”

This is a developing story. More to come.