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Fairfax obtain local website Allhomes for $50m

By 10 July 2014 5

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Fairfax Media Limited have announced The Domain Group’s acquisition of Canberra-based online property portal, All Homes Pty Ltd, subject to regulatory approval. Total price is believed to be $50 million.

Allhomes was founded in 2000 and has carved out a successful business over the last 14 years. It is the clear market leading property portal in the ACT and surrounding areas in regional NSW.

According to the ASX release the Domain Group will actively promote both Allhomes and Domain in the ACT and surrounding areas.

Fairfax Media Chief Executive Officer and Managing Director Greg Hywood said: “We are excited about the acquisition of Allhomes. It is a great business and this acquisition demonstrates Fairfax’s commitment to invest in growing Domain nationwide. Canberra is a strategically important market for Fairfax and Allhomes reinforces our digital position in the ACT.”

Tim White, Chief Executive Officer of Allhomes, will manage the Allhom es and Domain operations in Canberra. Mr White said: “This is a really exciting time and a great opportunity for Allhomes. Not only do our business objectives and values align, we will now have access to another highly skilled and motivated team, and also access to a national audience for our clients. I believe this is positive for all concerned, including most importantly for real estate agencies, consumers and staff.”

Chief Executive Officer of The Domain Group, Antony Catalano, said: “This is a very important acquisition for Domain. Allhomes has been a strong operator in the Canberra market for 14 years and is the go-to destination for all property buyers and sellers in the ACT.”

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5 Responses to Fairfax obtain local website Allhomes for $50m
#1
James McMahon4:35 pm, 10 Jul 14

This will make them a serious national contender now.

#2
dungfungus4:54 pm, 10 Jul 14

James McMahon said :

This will make them a serious national contender now.

A serious national contender for what?

#3
Zan7:28 am, 11 Jul 14

A serious contender for what?

My heart sank as another one bites the dust – an independent taken over by a multi-national.

#4
Shullerina9:44 am, 11 Jul 14

Or will they just outsource everything and stop contributing to the Canberra economy

#5
dungfungus10:13 am, 11 Jul 14

Fairfax have outsourced almost everything off shore. Sub-editing is now done in NZ and classifieds in Asia. This latest venture will probably go the same way.
A friend was greatly distressed last month when she tried to place a funeral notice in two Fairfax Media newspapers (one was the Canberra Times). The person taking the call in Asia simply could not understand the pronunciation of the deceased’s name or the spelling.
Anyone who has tried to talk with CT Direct on the phone will know what I am talking about.

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