Zoopla and Digital Property Group merger to go ahead
Regulators have approved the proposed merger between Digital Property Group and Zoopla.
Staff at Zoopla and Digital Property Group might have started negotiating contracts, following the news that the proposed merger between the two groups has been cleared by the Office of Fair Trading.
The government body found a tie-up between the two brands would not damage the market and decided this meant it did not warrant a referral to the Competition Commission.
It is thought the merger will create a credible alternative to Rightmove - the current leaders in the sector - as well as provide the enterprises' developer and estate agent members with enhanced value.
The combination is scheduled to be complete within the next few weeks and should result in a firm with a greatly-improved coverage of real estate listings.
It will also bring a complementary number of brands together, including primelocation.com, Zoopla.co.uk and Findaproperty.com.
Chief executive of the Digital Property Group Mark Milner said: "This is an important day for the industry, given the long-awaited balance in the market that this deal will deliver."
Zoopla also recently signed an agreement with Johnston Press to roll-out a new property platform across its websites.
Posted by Ken Hayes
Source: Zoopla press release, April 16th