Australian property portal giant, Domain, has closed a strategic commercial acquisition. This move will help the company get ahead in the Australian real estate market and close the ever-growing gap between its long-term rival, realestate.com.au for market dominance within the online property portal sector.
Domain has entered into an agreement with the shareholders of Commercialview.com.au to acquire 100 percent of the issued share capital in CommercialView.
commercialVIEW.com.au is the developer of a product that secures results for consumers. commercialVIEW.com.au is industry owned and agent focused, ensuring it operates in the best interests of agents and their clients. Its data is updated daily and sourced from the industry, allowing consumers to stay abreast of the property market with the most current, reliable and comprehensive information available.
In an ASX announcement Domain said the acquisition would occur through a subsidiary of Domain, Commercial Real Estate Media Pty Limited.
Domain Group CEO Jason Pellegrino said the move is an important one for the Domain business.
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