Mumbai-based Aurum PropTech has acquired Australia’s REA Group’s property platform Housing.com for an enterprise value of ₹458 crore in an all-equity deal as part of its expansion strategy, according to a filing with the exchanges today.
Aurum, in its release on 16 July, informed the stock exchanges that it has entered into a binding share acquisition agreement to acquire a 100% stake in Housing.com in an all-equity transaction, with an enterprise value of ₹458 crore. The valuation makes it among the biggest deals in the property technology space, a PTI report noted.
According to the release, Aurum said the strategic transaction brings Housing.com into its ecosystem as an integrated platform, spanning property discovery, transactions, financing, rentals and management across the real estate life cycle.
‘Setting a new benchmark for how real estate is discovered’
“Bringing marketplace and transactions together on one platform will create compounding synergies that will drive the next phase of value creation. The real power lies in the data flywheel as Housing and Aurum platforms work together, every intent, intelligence, transaction, financing and living makes the whole ecosystem smarter, setting a new benchmark for how real estate is discovered, transacted, and serviced in India,” said Ashish Deora, Founder and CEO of Aurum Ventures
Cameron McIntyre, REA Group CEO, acknowledged Aurum’s capability and local market knowledge to operate the India business, adding, “We are confident it will be in the right hands and is well placed to build on the strong foundations the team has established.”
#Mumbaibased #Aurum #PropTech #acquires #Housing.com #crore #Heres #deal
