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Auto tech company CarTrade Tech is close to acquiring rival CarDekho in a deal valued at over $1.2 billion.
CarTrade Tech operates an online platform that enables users to buy, sell, and research new and used cars, bikes, and vehicles. It also operates platforms such as CarWale, BikeWale, and OLX India.
The deets: the merger would bring together CarTrade’s strengths in dealer auctions, vehicle financing, and B2B remarketing with CarDekho’s scale in consumer listings, insurance, and digital retail.
If finalised, the deal would unite two of India’s most established auto-tech players, intensifying competition for rivals like Cars24, Spinny, and Droom, which are rapidly expanding in used cars and auto financing.
Why the acquisition: the timing couldn’t be better for CarTrade Tech. The company is riding strong financial momentum, holding a solid position in vehicle listings, dealer auctions, and auto marketing.
It’s also debt-free with a cash reserve of about ₹1,080 crore, giving it the flexibility to pursue strategic acquisitions.
