Singapore-headquartered automotive marketplace Carro has acquired Australian used-car platform CarPlace from Autoleague, according to a company release on Thursday.
Under the deal, Autoleague will retain a stake in CarPlace and become an investor in Carro.
The acquisition will give Carro access to showrooms in Western Australia and Queensland, while also enabling it to launch wholesale operations in Victoria.
The transaction expands Carro's presence to eight markets as part of its global expansion strategy.
Carro is backed by investors including SoftBank Group (TYO:9434), Cool Japan Fund and Temasek.
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