(Bloomberg) -- SMG Swiss Marketplace Group, which operates online real estate website ImmoScout24, is exploring strategic options including an initial public offering and a sale, people familiar with the matter said.
The firm, which counts General Atlantic among its backers, has attracted inbound interest from financial investors, the people said. The business could be valued at several billion euros in any transaction, the people said, asking not to be identified as the information is private.
SMG has brought in Evercore Inc. to help arrange its potential IPO, including seeking proposals from investment banks, according to the people. Should the company decide to pursue an IPO, a listing in Zurich could happen as soon as next year, they said.
Deliberations are ongoing and SMG hasn’t made any final decisions, the people said. While an IPO isn’t immediately planned, it remains a stated goal of its shareholders, a representative for SMG said, adding there’s no concrete timeline at this stage. Representatives for Evercore and General Atlantic declined to comment.
SMG was formed in 2021 when TX Group AG, Ringier AG, Mobiliar and General Atlantic launched a joint venture that combined multiple online platforms.
The Zurich-based company operates online marketplaces for real estate, automotive, finance and insurance. It also takes advertising on those platforms such as AutoScout24, tutti.ch, FinanceScout24. SMG employs almost 1,000 people in Switzerland, Serbia, Vietnam, France, Germany and India.
Ad businesses have attracted strong interest in recent months. Blackstone Inc. and Permira last year agreed to buy Adevinta ASA in a deal valuing the online classifieds company at about €14 billion ($15.5 billion) including debt.
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