Onthehouse Holdings Limited
(ASX:OTH) says it has completed the design of its next generation console and is discussing a potential joint venture merger of its consumer online division with RealestateVIEW.
Advanced negotiations are underway and a sale agreement is being prepared. Investment to accelerate marketing and product development is actively being sought.
The new cloud based console will offer streamlined back-office systems and now allows for third party applications to be integrated into the platform.
Onthehouse also says it has rejected an unsolicited non binding proposal from a Macquarie-led consortium that proposed to acquire the company for 75.5 cents per share saying it was undervalued.
Onthehouse made a net loss of $8.69 million for the 2015 financial year.
