T-Online to Buy Internet Portal Scout24

T-Online, the Internet arm of German telecoms giant Deutsche Telekom, on Thursday said it was buying the online marketplace provider Scout24 for €180 million ($220 million). Scout24 offers Internet portals for cars, finance, real estate, jobs and shopping mainly in German-speaking countries. “The Scout24 group with its successful business model and well-known market image is an ideal strategic partner for the T-Online portal,” T-Online boss Thomas Holtrop told the Associated Press. Sales for the Scout24 group are expected to top €70 million next year.