JAKARTA. PT Astra International Tbk (ASII) has acquired 100% of PT Tokobagus, a digital classified advertising company popularly known as OLX.

This acquisition is carried out by ASII through its subsidiaries, PT Astra Digital Mobil and PT Astra Digital Internasional. With this acquisition on process, 99.98% of OLX is under the control of Astra Digital Mobil, leaving the remaining 0.01% to Astra Digital Internasional.

Gidion Hasan, Director of ASII, said that this acquisition is in accordance with the company’s digital transformation strategy. “This acquisition is expected to reinforce digital ecosystem of Astra Group, offer comprehensive solution to users, and further advance the automotive industry in Indonesia,” he said in the official statement.

Lydia Venture Paterson, CEO of OLX Group, states that her company excitedly welcomes Astra Group’s initiatives, as it is deemed to have in-depth understanding regarding Indonesia’s market.

“We believe that OLX classified advertising platform is in the right hand, and Astra will lead OLX classified ads to a higher level,” Paterson mentioned. (KR/ZH)