Industry News

Online real estate company grows globally

RealEstate.com.au acquires Web sites in Luxembourg, France, Belgium, Germany
Published on Feb 6, 2007

The REA Group, which owns Australian online real estate site RealEstate.com.au, is continuing its global expansion through the acquisition of the atHome group of real estate sites, the company said Monday. The deal, valued at 4.5 million euro (1 euro = $1.29 US), is the third European real estate acquisition for REA in the last 14 months. AtHome operates five real estate sites covering Luxembourg (residential and commercial sites), the Wallonie region of Belgium, the Lorraine region of France, and the Trier region of Germany. According to REA, more than 500 agents currently use the sites. "The acquisition of the atHome group of sites continues to build out our European operations by providing the REA Group with a presence in four new markets," said Simon Baker, managing director of the REA Group. Baker said the REA Group will work with atHome's management team to solidify its market-leading position in Luxembourg and to continue to drive its expansion into Belgium, and selected ...

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