Oztion claims to have 1 million unique visitors a month and over 275,000 registered trading accounts in addition to a mobile service which is offered to carriers. According to Alexa the site is ranked as the 150th most popular in Australia. The company claims that Ebay’s recent regulatory woes have helped accelerate traffic and online transactions as users seek an alternative auction hub.

“With eBAy’s recent restrictive changes, many buyers and sellers have been switching to Oztion. Jumbuck has a giant community of users and we can help bring this great service to many new buyers and sellers,” Jumbuck CEO Adrian Risch said.

The founders of OZtion, Philip Druce and Kelvin Yip have committed to 2 year management contracts with Jumbuck. The company states that it is on track for $1.2 million in revenue targets for financial year 2008/9. BSI advised on the transaction.