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The merger between Zoopla and Digital Property Group (DPG), which owns Primelocation and Findaproperty, has finally been cleared by the OFT today.
DPG has been purchasing smaller property websites for the past few years, and their latest move is being seen as an effort to loosen rightmove’s firm grip on the online property advertising market.
The company will be headed up by Zoopla’s founder and CEO, Alex Chesterman, who will continue in the role of CEO with David Dutton, former chairman of Digital Property Group, to become its chairman.
In terms of the big-named websites involved, namely Zoopla, FindaProperty and PrimeLocation, and how they will operate moving forwards, it seems that they will continue for the forseeable future. The offices behind the websites will combine, to produce a single, strong team, with some employees facing redundancy as their roles clash.
Chesterman said “This merger is a huge step towards our goal of becoming the UK’s most useful online resource for property consumers and most effective online marketing partner for property advertisers. We still have much work to do over the coming months, but the result of integrating these businesses will be a significantly enhanced experience for our users and significantly enhanced value for our advertisers.”
Dutton added: “This is an exciting day. Our combined businesses have the scale and the resources to transform the online property sector for the benefit of consumers and advertisers alike. We are committed to providing the most innovative products and the most cost-effective advertising propositions, which will give our users and members a genuine powerful alternative in our marketplace.”
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