CoStar Group to Acquire Domain Holdings Australia Ltd.

CoStar Group, Inc., a leading provider of online real estate marketplaces, information, analytics and 3D digital twin technology, has entered a binding Scheme Implementation Deed to acquire 100% of the issued capital of Domain Holdings Australia Limited, a leading Australian property marketplace. Arlington, VA-based CoStar expects to spend approximately A$2.3 billion ($1.5 billion) to acquire the remaining approximately 83% of the ordinary shares of Domain that it doesn’t otherwise own.

Nine Entertainment Co. Holdings Limited, the controlling shareholder of Domain, has advised Domain that it intends to vote all of the Domain shares it holds or controls in favor of the acquisition.

“We’re pleased to have reached an agreement with Domain and to see Nine’s support of this transformative transaction,” said Andy Florance, founder and CEO of CoStar Group. “By combining Domain’s deep expertise with our global experience and best practices, we will build a more compelling user experience at a lower cost – driving greater value for agents, vendors, and home buyers. We will also create value for our customers globally by incorporating Domain’s learnings and best practices into our marketplaces outside of Australia. We are confident this acquisition will foster more competition in Australia.”

Domain is a leading property technology and services marketplace with one of the largest portfolios of property brands in Australia, including Domain, Allhomes, Commercial Real Estate, Domain Insight and Pricefinder. Headquartered in Sydney, Domain reaches an average of 6.6 million Australians each month.