iCar Asia closes $13 Million strategic investment deal from CarSales Ltd

iCar Asia Ltd today officially announce that it has signed a very significant investment deal from CarSales Ltd worth $13 Million. iCar Asia is one of Asia's biggest online car sales network with properties in Indonesia (mobil123.com), Malaysia and Thailand.

Aside from financial benefit, iCar Asia will also receive benefits of using CarSales' technology in order to improve their service and one step closer to make mobil123 the best online car sales company in the region.

Damon Reilly, CEO iCar Asia (owner of Indonesia's mobil123.com) said via press release "It is an amazing opportunity for Mobil123 team to work together with Car Sales Ltd. We're very excited to give the best service in this industry as well as the best experience for users".

In Indonesia, Mobil123 is definitely one of the biggest site in its line of service, pushing hundreds of thousands of car ads and vastly growing every single day. Its parent company, iCar Asia is an Australia-based listed company with headquarter in Kuala Lumpur. Its online properties includes Carlist.my, LiveLifeDrive.com, ThaiCar.com, Autospinn.com and Mobil123.com.

CarSales Ltd, also an Australia-based listed company is one of Australia's biggest players for selling cars, motorbike, trucks and even ships. It has attracted 3.8 million visitors as per end of 2011 and also operates CarPoint.com.au, BikeSales.com.au and RedBook.com.au.