UK-based Zoopla has agreed to buy UK-based property data company Hometrack for £120 million. Zoopla's real estate platform allows users to search for homes to buy and rent, and provides valuations. The company hopes the acquisition of Hometrack will help it to provide its customers with better data on the housing market.
Zoopla aims to become the go-to online portal for buying and selling homes. The company already owns the price comparison service, Uswitch, and the property sales website, Primelocation. Additionally, the company has recently invested in other businesses including Landbay, a peer-to-peer mortgage provider; PropertyDetective, which provides data on neighbourhoods; and FixFlo, which tracks problems with rental properties.
Hometrack was established in 1999 to provide data on the housing market to mortgage lenders, property developers, and investors. The company will continue to operate as a standalone service.
Read more: Telegraph