VILNIUS, Lithuania (12 October , 2022) — Horizontal Media (“HM” or the “Company”), which had recently received investment from LitCapital, today announces that it has completed its acquisition of online classifieds portals for automotive and real estate – Autogidas and Domoplius. It is expected that the transaction will increase the number of services offered by the Company, enhance customer experience, and strengthen its market position.

Together with the Company's CEO, Per Moller, LitCapital invested in the closed joint-stock Company Horizontal Media. After the acquisition, the Company now manage online classifieds portals Autogidas and Domoplius as well as peer-to-peer (P2P) book trading platform Sena.lt.

"A devoted customer base, years of experience in digital product management, and an emphasis on providing high-quality services have all led to the conclusion that the platforms acquired have the potential for further grow. We are currently looking into making additional acquisitions that are comparable to those we have already made," says Per Moller, CEO of Horizontal Media.

"Due to the highly competitive nature of the Lithuanian online classifieds market, we are under constant pressure to develop and implement innovative new services and functionalities for our users. Both Autogidas and Domoplius are well-known for being the second most popular option among local businesses and general population. The primary objective of online classifieds is to provide users with the highest possible quality of services. The expertise of investors in the digital marketing, along with additional financing, will make it possible to enhance the experience of customers more quickly, as well as to simultaneously expand product offerings," says Evaldas Narbuntovičius, CEO of Autogidas and Domoplius.

Over the course of the transaction, the buyer was advised by the commercial law firm Walless. The seller was represented by the M&A advisory firm Oaklins, while legal advice was provided by Sorainen.

About Horizontal Media

Horizontal Media (“HM” or the “Company”) is an online classifieds group in Lithuania. The Company is currently managing a peer-to-peer (P2P) and business-to-customer (B2C) platform for used books and is planning to execute an ambitious business plan aimed at growing the business via expansion into new products and services.

About LitCapital

Founded in 2010, LitCapital is a leading dedicated growth capital investor that invests in the development and growth phases of technologically enabled and advanced companies. LitCapital supports entrepreneurs and management teams with not only financial resources, but also expertise and strategic guidance in areas, such as top talent attraction, strategy and business model development, finance, sales, and add-on acquisitions. LitCapital raised its first fund in cooperation with the European Investment Fund (EIF), and the successor LcX Opportunity Fund is backed by INVEGA, along with local pension funds, family offices and high-net-worth private investors.

More information: Šarūnas Šiugžda, Founder and Managing Partner, www.litcapital.lt