At what enterprise value was ADEVINTA acquired in 2023?

During the acquisition of ADEVINTA by BLACKSTONE / PERMIRA in 2023, the company was valued at an estimated revenue multiple of 5x - 12x. The transaction's Enterprise Value is estimated to be in the range of 3b - 100b EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the TMT (Tech, Media, Telecom) industry currently tracks an average EBITDA multiple of 14.8x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of ADEVINTA when it was acquired by BLACKSTONE / PERMIRA?

The estimated EV/EBITDA multiple for ADEVINTA is in the range of 15x - 25x. For comparison, the TMT (Tech, Media, Telecom) sector currently shows an average EBITDA multiple of 14.8x. Join our community for free to access full valuation data and industry trends.

When was ADEVINTA acquired by BLACKSTONE / PERMIRA?

ADEVINTA was acquired by BLACKSTONE / PERMIRA in 2023.

What was the revenue of ADEVINTA at the time of the deal?

The revenue of ADEVINTA at the time of the deal is estimated to be in the range of 1b - 3b EUR. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of ADEVINTA during the acquisition?

ADEVINTA's EBITDA is estimated to be in the range of 450M - 900M EUR. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the ADEVINTA acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the ADEVINTA deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://adevinta.com/press-releases/permira-and-blackstone-announce-voluntary-offer-for-all-outstanding-ordinary-class-a-shares-in-adevinta-at-nok-115-per-share/

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Home Database TMT (Tech, Media, Telecom)ADEVINTA

11/2023

ADEVINTA acquired by BLACKSTONE & PERMIRA

NORWAY Media & Internet / E-commerce & Marketplaces EV 3b - 100b EUR

Context

Adevinta ASA is being acquired by Blackstone Inc. and Permira Advisers LLP in a joint transaction announced in November 2023. The deal follows a competitive process that concluded after the companies received regulatory clearance in key jurisdictions. Closing is anticipated in the fourth quarter of 2023, subject to customary closing conditions and final shareholder approvals. The acquisition results in a change of control from eBay Inc., which previously held a significant stake. The transaction aligns with Blackstone’s objective to expand its exposure to high‑margin digital platforms that generate recurring advertising revenue. Permira contributes sector‑specific expertise in online marketplaces and experience scaling technology‑driven businesses. Both investors identify synergies in leveraging data analytics, cross‑selling advertising products, and pursuing consolidation opportunities within the classified‑ads market. The combined ownership structure is intended to provide Adevinta with capital to accelerate product development, enter new verticals such as automotive financing, and enhance its mobile‑first user experience. Post‑closing, Adevinta will retain its existing management team, with board representation from Blackstone and Permira to oversee strategic initiatives. The investors plan to implement operational improvements focused on cost efficiency, technology integration, and expansion of premium services for professional sellers. The anticipated outcome is increased market share in existing territories, entry into additional geographies, and higher monetization rates per user, thereby strengthening the company’s competitive position in the global online classifieds sector.

It is worth noting that the fund Permira took control of Adevinta through an LBO in 2021.

ADEVINTA, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the TMT (Tech, Media, Telecom) sector (14.8x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

-> Deep-dive in TMT (Tech, Media, Telecom) market trends

Target

Adevinta ASA operates a portfolio of online classified platforms that enable users to buy, sell and rent goods and services. The company’s portfolio includes Leboncoin in France, mobile.de and eBay Kleinanzeigen in Germany, Marktplaats in the Netherlands, and OLX in Brazil, among others. Each marketplace provides a searchable digital environment for categories such as automotive, real estate, jobs, and general merchandise. Revenue is generated primarily through fee‑based advertising, premium listings, and transaction‑related services offered to private sellers and professional dealers. The platforms serve both consumer‑direct listings and business‑to‑consumer channels, allowing professional merchants to access large audience bases. Adevinta’s business model relies on network effects, where increased user participation enhances listing quality and attracts additional advertisers. The company reports operations across 16 countries, reaching approximately one billion consumers. Since its spin‑off from eBay, Adevinta has pursued organic growth and selective acquisitions to expand geographic coverage and product depth.

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Other operations with ADEVINTA

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
Date	Acquirer	Target	Country	Sector	Deal Context
07/2021	PERMIRA	ADEVINTA	NORWAY	Media & Internet	Permira Funds has completed a strategic investment in Adevinta ASA, acquiring approximately 125 million shares from eBay Inc., which corresponds to a 10.2 % ownership stake. The transaction, announced on 14 July 2021, is scheduled to close in the fourth quarter of 2021 pending regulatory clearance and customary closing conditions

REFERENCES

Valuation range: EV 3b - 100b EUR

Revenue range: 1b - 3b EUR

EBITDA range: 450M - 900M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of ADEVINTA by BLACKSTONE / PERMIRA are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Target: adevinta

Acquirer: permira / blackstone