Domain to snap up CommercialView

Company News

by Anna Napoli

Domain Holdings (ASX:DHG) is set to acquire digital property listings platform, CommercialView.

The acquisition will occur through Domain subsidiary, Commercial Real Estate Media.

The consideration for the proposed transaction is between $4.2 and $17.2 million, contingent on the future financial performance of the businesses.

The company says Commercial Real Estate has seen tremendous growth in the last few years.

The unanimous support for the deal from CommercialView shareholders is a strong vote of confidence in the potential upside of the company's Commercial Real Estate business.

CommercialView is a commercial property digital listings platform that is owned and supported by some of Australia's leading commercial real estate agencies in Victoria and New South Wales.

Shares in Domain Holdings (ASX:DHG) closed 8.66 per cent lower to $2.32 on Friday.