Quayle Munro is pleased to announce that it has advised the shareholders of Hometrack.Co.UK Limited (“Hometrack”), the UK’s leading provider of residential property market insights and analytics, on its sale to Zoopla Property Group Plc (LSE: ZPLA) (“ZPG”), owner of some of the UK’s most trusted and effective digital platforms including Zoopla, uSwitch, PrimeLocation and Property Software Group.
Founded in 1999, Hometrack is the UK’s #1 automated valuation model (“AVM”) provider and one of the leading AVM providers in Australia, generating over 20 million automated property valuations per annum. Hometrack provides residential property market insights, analytics, valuations and data services to over 400 partners including mortgage lenders, new home developers, investors, housing associations and local authorities. Hometrack currently partners with 16 of the top 20 mortgage lenders in the UK as well as all 4 leading Australian mortgage lenders and its UK AVM is recognised by all major ratings agencies.
For ZPG, the acquisition provides a strong partner with market-leading valuation tools and is in line with ZPG’s stated strategy to develop its data services business. The combination creates the UK’s most valuable residential property resource and will empower consumers with even more useful, accurate market information. It is also expected to be earnings and margin enhancing on an adjusted basis in the first full year.
Charlie Bryant, CEO of Hometrack, said: “We are delighted to announce this transaction and very much look forward to becoming part of ZPG. This is great news for Hometrack, its staff and our customers as we join the entrepreneurial and focused team dedicated to innovation at ZPG. Quayle Munro’s independent advice, sector expertise, diligence and enthusiasm for the transaction proved invaluable to the success of the transaction and delivered a fantastic outcome for Hometrack shareholders.”