The Australia-based online classifieds operator Digital Classifieds Group (DCG) has acquired the leading Bangladeshi real estate portal Bproperty from Emerging Marketplaces Group (EMPG) for an undisclosed sum.
According to a press release, the transaction will see DCG double its revenue and grow its headcount to over 550.
The deal will also see EMPG become substantial shareholders in DCG with current Bproperty CEO, Mark Nosworthy joining DCG's Board of Directors.
"I'm thrilled that through this transaction, we will continue to see Bproperty grow in Bangladesh as well as work collaboratively with DCG’s other markets to cement its position as Australia’s leading operator of property classifieds in Asian frontier markets,” said Nosworthy.
DCG now operates in portals in five markets and is a stakeholder in Thailand-based FazWaz.
The entrance into Bangladesh is a significant milestone for the company with the country becoming the group's largest market with DCG Group CEO Matthew Care looking forward to working with Nosworthy and the Bproperty team.
“We have long been impressed by the Bproperty operations in Bangladesh where they have single-handedly created the dominant classifieds and transactional property marketplace.” he said.
“I wholeheartedly welcome the Bproperty team to the DCG family and look forward to working with Mark so we can learn from his undeniable experience to help our upward growth. We look forward to the shared learnings within our teams in all markets.”