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Network of automotive portals iCar Asia Limited (ASX:ICQ) has tied up the $16.7 million acquisition of One2car.com Co. Ltd. 
 

One2car.com is the owner of Thailand’s largest automotive classifieds site by the same name and iCar Asia has described the purchase as a game-changing acquisition. 

iCar Asia believes One2car.com will give it a commanding leadership position in Malaysia, Thailand and Indonesia. 

The three countries collectively sell more than 3 million new cars and have automotive advertising expenditure of more than $1 billion per annum. 

iCar Asia reported a net loss of $6 million in the first half of the current 2014 calendar year.