IPMG, the owner of Homehound, has acquired ReNet according to reports in Real Estate Business.
Homehound is one of Australia’s lesser-known property portals. It was started a decade ago as a joint venture between media company IPMG and some leading Australian franchise groups. Today it is probably ranked #4 or #5 on the Australian property portal scene.
ReNet provides CRM, front office and workflow software for real estate agents. It is probably the #3 or #4 ranked CRM system in the Australian market behind MyDeskTop and PortPlus.
Scott Schindler, the CEO of ReNet will also take charge of the Homehound business.
The acquisition price has not been revealed.