REA shuns propertyfinder management buyout | General Discussion | Forums

REA shuns propertyfinder management buyout

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WellAppointed

2:52 am June 26, 2009

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REA this morning revealed that it has rejected the management buyout for the business and has instead picked another preferred bidder, thought to be a US property-related business. Redundancy consultations continue at the business for the remaining 90-odd staff and it is thought the preferred bidder's name will be revealed on monday.

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Simon Baker

5:07 am June 26, 2009

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Speculation is running wild about who the potential purchaser could be. I would be surprised if it was someone from the US. The only one over there that could / would do it would be move.com – and they have too much on their plate.

My guess is that it is more likely to be someone local … DMGT

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property number

5:50 am June 26, 2009

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DMGT and Trinity group are the firm Favorites local knowlege and vested business interests with dark horse Zoopla and Right Move coming in at the 11th hour as mystery buyers identity I will be watching watching PPW space for the latest breaking news……. Smile what is most definite and important is that the company is continuing and NOT CLOSING!

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WellAppointed

1:51 pm July 6, 2009

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OK I got it wrong as Zoopla is now the preferred bidder and not anyone from the US. Zoopla makes for a strange one as it has a completely different model to propertyfinder – Zoopla is pay per lead sold via an outsourced sales force and propertyfinder an on-the-road sold tenancy business. It's also hard to see how Zoopla can afford to sustain its new big brother – which is cash hungry and is only big because it spends big on PPC and other paid-for traffic.

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