Summary:

Property listings site Zoopla.co.uk has bought out PropertyFinder Group from its joint owners News International and the Australian REA Grou…

Property listings site Zoopla.co.uk has bought out PropertyFinder Group from its joint owners News International and the Australian REA Group. That means that a PropertyFinder management buy-out, led by CEO and former MSN UK head Gillian Kent, has come to nothing. The terms of the acquisition aren’t disclosed, but NI and REA bought the site for £14 million in 2005 and it’s fair to say this deal see far less money changing hands. It’s the second big buy from Zoopla recently: last month the company bought Thinkproperty.com from Guardian Media Group.

PropertyFinder has around 2.3 million unique monthly users and makes almost £7 million a year in revenue but is loss-making. The businesses includes PropertyFinder.co.uk, HotProperty.co.uk and UKPropertyshop.co.uk. Zoopla adds in the release that PropertyFinder — helped by its former owners’ business links — has a range of online partnerships with MSN, Yahoo (NSDQ: YHOO), Guardian.co.uk, BSkyB (NYSE: BSY), Virgin Media (NSDQ: VMED) and others.

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