Domain Acquires Data Services Provider Insight Data Solutions

September 16, 2021
Share this Post: 

Australian portal company Domain has today announced that it has agreed to acquire data services provider Insight Data Solutions (IDS).

Founded in 2013, IDS is a leading real estate data business focused on the corporate and government markets. In a press release Domain stated that with the purchase of IDS it is looking to expand its total addressable market beyond agents and consumers to financial institutions and governments.

In the government segment IDS' valuation tool manages 28% of national statutory valuation volume, with leading positions in Victoria and the City of Adelaide. While in the financial sector IDS has a bank-grade automated valuation model product suite and its valuation models are in use by smaller lenders, fintechs and mortgage brokers.

Domain CEO Jason Pellegrino said of the deal:

“We are pleased to welcome IDS to the Domain Group. IDS brings rich experience in building property data platforms and delivery services to support the workflow requirements of Governments, particularly in regards to land valuations"

“IDS is a strong standalone business and a great addition to our Property Data Solutions pillar. Through the acquisition we can support IDS to keep innovating and expanding into new markets and geographies”.

Completion of the deal is expected by mid-October with Domain paying an initial consideration of A$60 million with the final price paid to be between A$140-159 million depending on performance.

The founders of IDS will stay on at the company with revenues for FY22 expected to meet the A$7 million target. Expectations for the company's future performance are sanguine with a greater than four-fold increase in revenue predicted by FY26.

With the purchase of IDS, Domain is looking to diverge from the path taken by its rival REA Group which has been leaning heavily into mortgages with the recent acquisition of brokerage firm Mortgage Choice and investment in mortgage software firm Simpology.

September 16, 2021
Edmund got to know the world of portals and marketplaces working at Mitula Group (which became Lifull Connect after the buyout in 2018). He worked directly with hundreds of portals across the world in his role in the content department for three and a half years before transferring to the SEO department to understand the inner workings of listings sites. He joined Online Marketplaces as Head of Content in March 2020.

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Proptech Group Results Generic
PropTech Group Shows Impressive Growth in Q1 Figures

The ASX-listed property technology group The PropTech Group has released figures for Q1 of its FY22 operations. Headline figures from...

Read More
Bien Ici Paris
Bien’ici Debuts New Elixir Property Platform

French property portal Bien’ici has launched a technology platform focused on sales of new property projects. Elixir aims to provide...

Read More
Funda
Dutch Portal Funda Acquires Commercial Player RealNext

Dutch commercial property platform RealNext has been acquired by NVM in a move that will see its assets incorporated into...

Read More
Zumper Movoto Deal
US Portal Operators OJO Labs and Zumper Sign Listings Deal

The US real estate portal operator OJO Labs has announced that it has signed a listings partnership deal with rental...

Read More

Popular News