Apax Partners on Friday said it agreed to sell Trader Corp., an online automotive marketplace based in Canada, to private-equity firm Thoma Bravo for 1.575 billion Canadian dollars ($1.22 billion).

Trader Corp. offers software for auto dealers and car buyers. The company's online properties include autotrader.ca, autohebdo.net and Autos.ca, and they attract 13 million visits a month, according to Apax Partners.

The transaction, which is pending certain closing conditions, is expected to close sometime in the final three months of the year.

Apax bought Trader in June 2011 from Yellow Media Inc. for around C$708 million ($555.8 million). A year ago, The Wall Street Journal reported that Apax was considering its options for Trader, including a sale or initial public offering of the Ontario-based company.

Last month, Apax Partners' affiliate Apax Europe VII sold its remaining 18.4 million shares in car sales website Auto Trader Group PLC at 415 pence (603.5 cents) a share, raising £ 76.4 million ($111.1 million).

Write to Ezequiel Minaya at ezequiel.minaya@wsj.com

(END) Dow Jones Newswires

July 01, 2016 14:35 ET (18:35 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
Yellow Pages (TSX:Y)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Yellow Pages Charts.
Yellow Pages (TSX:Y)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Yellow Pages Charts.