The merger between Zoopla and Digital Property Group, which owns Primelocation and Findaproperty, has today been cleared by the OFT.
The company will be headed up by Alex Chesterman, Zoopla’s founder & CEO, who will continue in the role of CEO with David Dutton, former chairman of Digital Property Group, to become its chairman.
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.”
Each of the existing brands will continue to operate for the foreseeable future, The Drum has been told.
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.”