Property data company Hometrack Australia has been recently acquired by REA Group for $130 million to be completed in a couple of days and will not face intervention from the Australian Competition and Consumer Commission.
ASX-listed REA, majority owned by News Corp, said in a note to the exchange the acquisition will allow its realestate.com.au platform to deliver more property data and insights to consumers and customers.
REA had announced the 100 percent purchase of the property analytics company to the market at the beginning of May.
The $130 million purchase consideration is being funded from existing cash reserves and debt.
Hometrack Australia is a provider of property data services to the financial sector. Its products include property data analytics and insights, customized data platforms and an automated valuation model.
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