MIH Internet Europe has purchased 100% of Vatera.hu, Hungary's leading online auction and e-commerce marketplace from iEurope Capital.

The purchase price was not disclosed, but a statement from iEurope claimed it was Hungary's largest Internet deal to date.

"Under our guidance, Vatera has developed a multi-disciplined management team with established management processes and a solid marketing focus essential to any consumer-oriented business," said Laszlo Czirjak, a partner at iEurope, in a statement.