Zoopla Property Group has acquired Trinity Mirror Digital Property Limited (TMDP) from Trinity Mirror for £3.3 million. TMDP owns a portfolio of property websites including SmartNewHomes.co.uk, a new homes portal; HomesOverseas.co.uk, a portal dedicated to overseas property listings; Email4Property.co.uk, an estate agent directory and lead generation website and Zoomf.com.
The stand-alone subsidiary, had revenues of £2.9 million and made an operating profit of £0.5 million for the 52 weeks ended 30 December 2012.
In addition to the acquisition of TMDP, Zoopla Property Group and Trinity Mirror are working on a long term commercial agreement whereby ZPG will power the property search for Trinity Mirror’s national and regional newspaper websites.
Zoopla Property Group is the parent company of two major UK property websites – Zoopla.co.uk and PrimeLocation.com and was formed in October 2012 following the merger of Zoopla Ltd and The Digital Property Group. It is a privately held company whose shareholders include A&N Media (a division of the Daily Mail and General Trust), leading venture capital firms Atlas Venture and Octopus Ventures.
Alex Chesterman, Founder & CEO of Zoopla Property Group said, “The acquisition of TMDP is a great strategic fit for ZPG. It allows us to continue to build our portfolio of niche brands in the digital property space like SmartNewHomes, HomesOverseas and PrimeLocation alongside our core national brand Zoopla. The TMDP portfolio of websites further extends our audience and registered user base for the benefit of our members and we will be investing significantly in each of these niche brands to ensure that we continue to be the most effective marketing partner for each of our members.”