The owners of group buying sites Deals.com.au and Ouffer.com are adding to their portfolio by buying Cudo from Microsoft and Nine Entertainment Co Joint Venture, Mi9.
AussieCommerce has bought the site for an unknown amount in an aim to build on Cudo’s database and travel industry relationships.
“Combining Cudo with the Deals.com.au and Ouffer platforms means that we can give our merchants access to a much larger audience, while bringing consumers more amazing offers and greater value for money,” said Adam Schwab, managing director of the Aussie Commerce group.
Cudo CEO Mike Sneesby welcomed the sale.
“This is the perfect fit for Cudo and for all consumers who love group buying deals. In an industry that continues to consolidate, it makes sense for AussieCommerce to take the Cudo business forward. I’m also pleased to announce that Cudo and AussieCommerce will maintain a long-term association with Mi9 through an ongoing marketing partnership,” he said.
With the acquisition of Cudo, which was launched by ninemsn in 2010, AussieCommerce is forecasting 2013 sales of more than $100 million across the group.