The online property portal Zoopla is set to purchase the Property Software Group for £75m.
Founded in 2007 The Property Software Group own cloud-based services such as Alto and Jupix, desktop systems Vebra and the newly launched software MyPropertyFile and MoveIt. The group will join Zoopla’s impressive growing portfolio which includes Uswitch and PrimeLocation.
Zoopla said the deal would "enable the enlarged group to offer agents the UK property industry's first end-to-end solution including software and CRM, digital marketing and market insight tools and further revenue opportunities".
After the merger, The Property Software Group will continue to operate under its own brand though existing users of the Property Software Group’s will start to perhaps see a merger of existing software into one streamlined offering.
Alex Chesterman, Founder and Chief Executive Officer of Zoopla Property Group had this to say: "This acquisition is a game-changer, combining Zoopla Property Group’s best-in-class property marketing solutions with PSG’s best-in-class property workflow solutions, and will transform the services available for both UK agents and consumers.
"We will be able to offer UK property professionals an unrivalled proposition supporting them with their software and CRM solutions, digital marketing requirements, market insight tools along with providing them a range of new revenue opportunities through PSG’s MoveIT platform.
"Our ambition has always been to be the most effective partner to the UK property industry and this deal will allow us to work more closely with our agent partners and offer them an even more compelling service. I look forward to welcoming Mark and his team to the ZPG family."
The question now remains will Rightmove look at this and also feel that they need to get more directly involved with estate agents to keep Zoopla in check.
This acquisition is a game-changer, and will transform the services available for both UK agents and consumers.