Domain Holdings Australia (ASX:DHG)
is set to acquire real estate campaign management platform Realbase for $180 million plus contingent consideration of up to $50 million.
The acquisition will be funded via an $180 million underwritten entitlement offer, issuing around 47.4 million shares at $3.80 per share. Completion of the acquisition is anticipated to occur later this month.
Domain said the acquisition is expected to generate significant upsell and cross-sell opportunities, through providing a broader platform and deeper service offering that is embedded in the agent workflow.
It also said Realbase’s broad geographic coverage is expected to materially improve Domain’s listing coverage, while Domain’s experienced sales team is expected to improve Realbase’s product penetration.
Shares in Domain Holdings Australia (ASX:DHG)
are in a trading halt, and last traded at $4.01.