News Burst: Scoot gets the Loot for £189.8m

• Tags:
• Classifieds,
• Scoot,
• Loot,
• E-commerce

Matthew Broersma ZDNet.co.uk

Published: 12 Jun 2000 12:27 BST

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Scoot Monday announced the completion of its acquisition of Loot, the online and print-based classified guide. The deal is worth £189.8m.

Scoot, which currently focuses on city-guide information via the Internet and telephone, says it plans to expand its operations into business-to-consumer and consumer-to-consumer e-commerce. In a statement it claimed the deal will "create the largest destination site for classified and directory services in the UK".

Scoot said it will now focus on five vertical markets: home and garden, business services, motoring, travel and entertainment, and retailing.

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