ZPG plc to acquire a Netherlands company for over £25m

ZPG plc, which owns and operates some of the UK’s property and household-related digital brands, today announced (November 29) that it has agreed to acquire Calcasa, an automated property valuations provider in the Netherlands, for £26.5m.

This is on a cash-free, debt-free basis, with a performance-based earn-out of up to £44.2m. Completion of the acquisition is expected to take place on December 1, 2017.

Established in 2005, Calcasa is an automated valuation model (AVM) and residential property market insights provider, said to have the largest property database of over 10m unique price points.

Evert Van de Wauwer, CEO of Calcasa, said: “We are very excited to become part of the wider ZPG business. We know the Hometrack team well and our combined data and enhanced products and services will deliver even more value to our partners.

“We are looking forward to helping to build on ZPG’s data capabilities and further develop its international presence as the market leader for residential property data analytics.”

This acquisition of Calcasa by ZPG is said to create the largest residential property valuation database in Europe.

Calcasa’s AVM is deeply integrated into the valuation processes of the Netherland’s top 10 lenders and has a 10+ year track record in the Dutch mortgage and real-estate markets.

The transaction is expected to be earnings and margin enhancing for Calcasa on an adjusted basis in the first full year.

Alex Chesterman, founder and CEO of ZPG, added: “We are delighted to announce the acquisition of Calcasa. The combination of Hometrack and Calcasa will give us unrivalled capabilities as an international property data platform.

“This is another example of a transaction that fits perfectly with our strategy. Calcasa is a business that we know well with strong underlying growth and which we believe will be even stronger under our ownership.

“And we are buying the business at a price that is accretive to our shareholders. We look forward to welcoming Evert and his team to the ZPG family.”

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