News Corp. subsidiary REA Group Ltd., a provider of advertising services to the real estate industry in Australia and Asia, has agreed to acquire Hometrack Australia for A$130 million in cash.
Under the deal, Hometrack Australia will be a subsidiary of REA Group and its results will be included within the digital real estate services segment. The acquisition, which will be funded with a mix of cash and debt worth A$70 million, is subject to customary closing conditions and regulatory approval.
Hometrack Australia is a residential property data company and will allow REA Group to deliver more property data and insights to its customers.
