[UK] More consolidation in the UK online property listing sector.
AND, the digital consumer division of A&N Media (part of DMGT plc) and parent of The Digital Property Group (TDPG), has announced that it’s acquired 50% of Globrix, the UK’s largest free-to-list property search engine.
Interestingly, this isn’t just about TDPG firming up its strong position in the space – the group already operates PrimeLocation.com, FindaProperty.com and FindaNewHome.co.uk, making it the second most visited of the UK property portals – but also appears to be in-part a technology play.
Globrix pitches itself as a property search engine not a traditional listings site – their software claims to index almost every single estate agent in the UK where users can query what is available to buy or rent. Along with investing in the growth of Globrix’s brand, AND says it plans to help the company extend its platform into other classified vertical markets.
Part of this strategy will be to provide hosted classified ad portals for various media partners. Globrix already powers Globrix.ie in partnership with Independent Newspapers Ireland and the company says that it is in discussions with a number of other parties. On that note, AND will provide “capital, immediate credibility and access to international media partners” to help accelerate this aspect of the business.
Another interesting twist to this story is that DMGT rival, Rupert Murdoch’s News International, previously owned a stake in Globrix only to sell it back to the founders.
Globrix was launched in 2008 as a free-to-list property site. The company doesn’t charge a listing fee to estate agents but instead generates revenue from “targeted and relevant ads” displayed separately on the site.