North Media's BoligPortal Strikes Deal to Acquire Property Management Platform Boligmanager

January 27, 2022
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Leading Danish rentals vertical BoligPortal has announced that it has agreed to acquire digital housing and property management system Boligmanager.

Founded in 2020 by Michael Melgaard Mærkedahl and Jonas Mørup Christensen, Boligmanager develops property management software for landlords and will be used by Boligportal to create an integrated platform for managers and home-seekers / tenants along the lines of Scout24's MieterPlus product in Germany.

BoligPortal (a subsidiary of Danish publishing house North Media) has paid a total of DKK 12 million ($1.8 million) to acquire a 51% ownership interest in its new Boligmanager with DKK 4 million going to the founders. BoligPortal will have a right to acquire, and the founders of Boligmanager will have a right to demand that BoligPortal acquire, the remaining shares in 2027 at a price to be determined by way of an earn-out model.

The three-person team of Boligmanager will be kept on by its new owners past the February 1st takeover date with the product and team set to expand with BoligPortal set to spend DKK 8 million ($1.2 million) on upscaling the business.

“This deal will add a new business line to BoligPortal. It’s a perfect fit with our strategy to strengthen our existing businesses through acquisitions,” says Henrik Løvig, Executive Director of Acquisitions & Business Development at North Media.

“Through Boligmanager, BoligPortal will be able to meet all the important needs of landlords and property managers. We can help landlords post vacancies, make contact with tenants, manage individual properties or portfolios, provide information on supply and demand from our unique data, and through our business partners we can offer power and internet services as well as insurance and financing arrangements,” explains BoligPortal’s CEO Anders Hyldborg.

Real estate portal companies are increasingly looking to acquire and incorporate landlord tools to their consumer-facing front ends. In acquiring Boligmanager, BoligPortal is following in the footsteps of the likes of Scout24, Zillow and Rightmove in trying to build a seamless experience for rental management for rentals.

January 27, 2022
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.

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