Zoopla buys PropertyFinder Group

Property site Zoopla has purchased PropertyFinder Group, part-owned by News International, for an undisclosed sum.

Zoopla

The deal will see Zoopla integrate propertyfinder.com – acquired by News International and Australian property company The REA Group for £14m in 2005 – into its existing services.

PropertyFinder Group’s other online property assets include HotProperty.co.uk and UKPropertyshop.co.uk.

Alex Chesterton, Zoopla’s founder and CEO, said he sees the acquisition as a transformational deal for Zoopla and the online property industry.

“Our organic growth over the past year has been exceptional but this acquisition is a great fit for us and will accelerate us significantly towards the goal of becoming the leading residential property resource in the UK,” he said.

The move follows Zoopla’s acquisition of Guardian Media Group-owned Thinkproperty last month.

This story first appeared on newmediaage.co.uk

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